(RTTNews) - XD Inc. (2400.HK, XDNCF), a Chinese video game developer, publisher, and platform operator, on Wednesday announced an automatic share buyback program of up to HK$400 million.
The buyback program is scheduled to run until November 11, unless completed earlier after the full HK$400 million amount is utilized.
The share repurchases under the program will commence on June 12.
The company said all shares repurchased under the program will be cancelled.
The company said the board believes the implementation of the automatic share buyback program is in the best interests of the company and its shareholders.
The company entered into an agreement with an independent broker to execute the repurchases.
On Tuesday, XD closed trading 0.41% higher at HK$49.260 on the Hong Kong Stock Exchange.
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