BEST Adopts $20M Share Buyback Program

by Shivani Kumaresan, Benzinga Staff Writer

March 8, 2023 7:51 AM | 1 min read | Make a Comment

BEST Inc BEST board of directors has authorized a share repurchase program, under which BEST may repurchase up to $20 million worth of its shares.
The authorization is valid for the next 12 months. The company's proposed repurchases may be made from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination.
BEST's board of directors will review the share repurchase program periodically, and may amend the terms of the program.
The company plans to fund the repurchases from its available working capital.
BEST held $468.4 million in cash and equivalents as of Sept. 30, 2022.
Price Action: BEST shares are trading higher by 5.20% at $0.68 in premarket on the last check Wednesday.

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