PPDAI Group Inc. Announces Increase in Share Repurchase Program up to US$120 Million
PPDAI GROUP INC (PPDF)
Last ppdai group inc earnings: 5/15 05:30 am
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ir.ppdai.com
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Source: PR Newswire
SHANGHAI, Aug. 22, 2018 /PRNewswire/ -- PPDAI Group Inc. ("PPDAI," "Paipaidai," or the "Company") (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced that, on August 21, 2018, the board of directors of the Company (the "Board") approved an expansion of the Company's existing share repurchase program whereby the maximum aggregate value of the Class A ordinary shares in the form of American depositary shares ("ADSs") that can be repurchased increased from US$60 million to US$120 million. The period of the Company's existing share repurchase program was also approved by the Board to be extended for another twelve-month period starting from the date on which the Board approved such extension. Combined with remaining prior authorization of US$20.63 million, PPDAI is now authorized to repurchase its own Class A ordinary shares in the form of ADSs with an aggregate value of up to US$80.63 million in the twelve-month period starting from August 21, 2018. Mr.
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