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Benzinga

Shivani Kumaresan

Vipshop Plans $1B Share Buyback Program

Vipshop Holdings Ltd (NYSE:VIPS) board of directors has authorized a new share repurchase program for up to $1 billion of its American depositary shares or Class A ordinary shares over the next 24-month period.
The company's board will review the share repurchase program periodically and may authorize adjusting its terms and size.
The company held $2.7 billion in cash and equivalents as of December 31, 2021.
Vipshop Holdings is an online discount retailer for brands in China.
Price Action: VIPS shares are trading higher by 8.58% at $10.00 in premarket on the last check Thursday.

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