(editor: qing nan)
everyone today announced that the board authorized the company for the start of the June 28, 2013, a year of a new round of stock repurchase program, the amount of up to $100 million.
the company said the plan would replace company is about to complete the $150 million share repurchase plan, announced on September 29, 2011, began to execute). According to the securities and exchange commission act 10 b5-1 and 10 b – 18 rule, the buyback plan authorized company in the coming year, everyone according to publicly traded stock market price or other ways to buy back shares permitted by law.
it is reported that as early as the beginning on September 29, 2011, the company announced that it will buy back shares nearly $150 million. Capital markets started to do the air almost shares at the time, makes the Chinese stocks falling share prices. Since May 2011, and everyone shares plunging, $16.80 from its debut, has dropped to $2.84 now.
according to a new round of stock repurchase, and everyone, chairman and chief executive, Mr Chen said: “we will continue to focus on all the company’s long-term strategy, establish the sustainable development of the mobile social network centered business. So far, we have completed nearly $150 million of stock repurchase, and hope that through a new round of the buyback plan shows that we will, as always, strive to create value for shareholders, return for investors. “