Qutoutiao Inc. Announces up to US$50 Million Share Repurchase Program
Qutoutiao Inc. - American Depositary Shares (QTT)
Last qutoutiao inc. - american depositary shares earnings: 3/18 05:30 am
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Source: GlobeNewswire
SHANGHAI, China, May 28, 2019 (GLOBE NEWSWIRE) -- Qutoutiao Inc. (“Qutoutiao”, the “Company” or “We”) (NASDAQ: QTT), a leading operator of mobile content platforms in China, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$50 million worth of its outstanding American depositary shares ("ADSs") representing its Class A ordinary shares over the next 12 months starting from May 28 2019, the effective date of the program. Under the share repurchase program, the Company may repurchase its ADSs from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. In addition, Qutoutiao will also effect repurchase transactions in compliance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended, and its insider trading policy. The number of ADSs repurchased and the timing of repurchases
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