Vipshop To Buy Back Up To $500 Mln Shares

(RTTNews) - Chinese online discount retailer Vipshop Holdings Ltd. (VIPS) announced Friday that its board of directors has authorized a new share repurchase program of up to $500 million of its American depositary shares or Class A ordinary shares.

The share repurchase will be until the close of business on March 31, 2025, U.S. Eastern Time.

The company said it plans to adopt and implement the share repurchase program in accordance with applicable rules and requirements.

The proposed repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, the company said.

Vipshop expects to fund the repurchases out of its existing cash balance.