Meituan Plans US$1 Billion Share Buyback

Meituan Dianping (HK:3690) has released an update.

Meituan has announced its plan to buy back up to US$1 billion of its Class B ordinary shares in the open market, a move reflecting the company’s confidence in its business outlook and potential to create shareholder value. The repurchase is in accordance with the mandate approved by shareholders and will be executed based on market conditions, with no guaranteed timing or volume. Additionally, the company will cancel 115,843,100 treasury shares to further demonstrate its commitment to shareholder interests.

For further insights into HK:3690 stock, check out TipRanks’ Stock Analysis page.