Noah Holdings announced the repurchase of 100,000 ordinary shares, equivalent to 20,000 American Depositary Shares (ADSs), on the New York Stock Exchange. This action was executed as part of a buyback mandate authorized in June 2024. The shares were repurchased at an average price of $2.6266 per share.
This strategic share buyback demonstrates Noah Holdings' commitment to enhancing shareholder value and proactively managing its share capital. The company had previously authorized a US$50 million share repurchase program in late August 2024. This move signals management's confidence in the company's long-term growth prospects and financial stability.
The ongoing share repurchase program is a component of Noah's broader strategy to deliver sustained returns to its shareholders. By reducing the number of outstanding shares, the company aims to increase the value of remaining shares. This action aligns with the company's focus on prioritizing shareholder interests.
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