Autohome Board Authorizes Share Repurchase Program
(RTTNews) - Autohome (ATHM) said its Board of Directors authorized a new share repurchase program under which the company may repurchase up to $200 million of its American depositary shares over the next eighteen months. The proposed repurchases may be made from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means.
The Board will review the authorized share repurchase program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The company plans to fund repurchases from its existing cash balance.
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