X Financial to repurchase approximately $9.04M of its ADSs

X Financial announced that it has commenced a tender offer to purchase up to 2M American Depositary Shares of the company, each representing six Class A ordinary shares, par value $0.0001 per share, at a price of $4.52 per ADS, less any applicable withholding taxes, less a cancellation fee of $0.05 per ADS accepted for purchase in the Tender Offer that will be paid to The Bank of New York Mellon, the company’s ADS depositary, and without interest. The Tender Offer will expire at 5:00 P.M., New York City time, on July 12, 2024, unless extended or earlier terminated. As previously announced, the Company’s Board of Directors approved a share repurchase program of up to $20M in May 2024. The repurchase of ADSs in the Tender Offer is being made pursuant to the 2024 Repurchase Program.