X Financial Announces Results of Tender Offer and Increased Purchase Amount
Are you interested in the latest financial news from China? X Financial, a leading online personal finance company, has just announced the results of its tender offer to purchase up to 2 million American Depositary Shares (ADSs) of the company. The Tender Offer, which expired on July 12, 2024, received a total of 2,026,640 validly tendered ADSs.
What does this mean for investors? The Company has decided to increase the aggregate amount of ADSs to be purchased to 2,026,640 in order to accept all validly tendered shares. This move not only provides liquidity to shareholders looking to exit but also offers an opportunity for remaining shareholders to increase their ownership in X Financial.
According to Mr. Frank Fuya Zheng, the CFO of X Financial, this buyback demonstrates the company’s commitment to returning value to shareholders and navigating the evolving economic landscape. The company plans to employ various methods, such as dividends and share buybacks, to drive long-term returns for shareholders.
After the completion of the Tender Offer, X Financial expects to have 186,872,295 Class A ordinary shares outstanding. The information agent and depositary for the Tender Offer is Broadridge Corporate Issuer Solutions, LLC, who will handle the payment for all accepted ADSs.
X Financial is a leading online personal finance company in China, connecting borrowers with institutional funding partners through its proprietary big data-driven technology. For more information, you can visit their investor relations website.
This announcement contains forward-looking statements, so investors are advised to consider the risks and uncertainties involved. For any questions regarding the Tender Offer, shareholders can contact Broadridge Corporate Issuer Solutions, LLC.
Stay updated on X Financial’s latest news by visiting their website or contacting their investor relations team. Don’t miss out on the opportunity to learn more about this leading online personal finance company in China.
