(RTTNews) - Sea Limited (SE) announced that its board of directors has authorized a share repurchase program under which the company may repurchase up to $1 billion of its American depositary shares, each representing one class A ordinary share of the company. Share repurchases under the authorization may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, derivative transactions, trading plans meeting the requirements of Rule 10b5-1 and Rule 10b-18.
Sea Limited said the program demonstrates its confidence in long-term prospects and allows the company to opportunistically repurchase its shares.
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