MINISO Announces US$200 Million Share Repurchase Program
GUANGZHOU, China, Sept. 15, 2023 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that, following the expiration of the share repurchase program the Company adopted in September 2022, the board of directors of the Company (the "Board") authorized and approved a new share repurchase program on September 15, 2023 (the "2023 Share Repurchase Program"), under which the Company may repurchase up to US$200 million 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 date on which the 2023 Share Repurchase Program was approved.
- GUANGZHOU, China, Sept. 15, 2023 /PRNewswire/ -- MINISO Group Holding Limited (NYSE: MNSO; HKEX: 9896) ("MINISO", "MINISO Group" or the "Company"), a global value retailer offering a variety of trendy lifestyle products featuring IP design, today announced that, following the expiration of the share repurchase program the Company adopted in September 2022, the board of directors of the Company (the "Board") authorized and approved a new share repurchase program on September 15, 2023 (the "2023 Share Repurchase Program"), under which the Company may repurchase up to US$200 million 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 date on which the 2023 Share Repurchase Program was approved.
- The Company expects to fund repurchases under the 2023 Share Repurchase Program from surplus cash on its balance sheet.
- The Board believes that the current financial resources of the Company would enable it to implement the share repurchase without causing any material impact on its working capital.
- The Board will review the 2023 Share Repurchase Program periodically, and may authorize adjustment of its terms and size.