Kuaishou Technology Class B (HK:1024) has released an update.
Kuaishou Technology has announced a new HK$16 billion share repurchase program to begin after June 13, 2024, aimed at enhancing shareholder value and expressing confidence in its business prospects. The initiative will span the next 36 months, allowing the company to buy back its Class B shares, following the successful repurchase of 61.7 million shares under the existing program. The repurchase plan’s execution will be at the discretion of the Board, based on market conditions, and is intended to be financed through the company’s robust financial resources.
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