Vipshop Adopts $500M Stock Buyback Program

  • Chinese online discount retailer Vipshop Holdings Limited VIPS board of directors has authorized a new share repurchase program of up to $500 million of its American depositary or Class A ordinary shares.
  • The share repurchase window will close on March 31, 2025.
  • The company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
  • Vipshop expects to fund the repurchases out of its existing cash balance.
  • The company held $3.3 billion in cash and equivalents as of December 31, 2022.
  • Price Action: VIPS shares are trading higher by 1.76% at $15.59 in premarket on the last check Friday.

Posted In: NewsBuybacksGeneralBriefs