Cloopen Plans $40M Share Buyback Plan

September 28, 2021 7:45 AM | 1 min read | Make a Comment

Cloud-based communications solution provider Cloopen Group Holding Ltd's RAAS board approved a share repurchase program of up to $40 million of its Class A ordinary shares in the form of ADSs during twelve months commencing on September 28.
The company plans to fund the repurchases from its existing cash balance.
Cloopen held $416 million in cash and equivalents as of June 30.
Price Action: RAAS shares traded higher by 2.34% at $4.38 in the premarket session on the last check Tuesday.

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