MINISO Announces HK$2B Share Repurchase Program

Author: Benzinga Newsdesk | August 30, 2024 04:40am

MINISO Group Holding Limited (NYSE:MNSO, HKEX: 9896))))) ("MINISO", "MINISO Group" or the "Company", together with its subsidiaries, the "Group"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that, the board of directors of the Company (the "Board") authorized and approved a new share repurchase program on August 30, 2024 (the "2024 Share Repurchase Program"), under which the Company may repurchase up to HKD2 billion in value of its outstanding ordinary shares and/or American depositary shares representing its ordinary shares (collectively, the "Shares") over a period of 12 months starting from the approval date. The Company expects to fund the repurchases under the 2024 Share Repurchase Program from surplus cash on its balance sheet.

Posted In: MNSO