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Stock Market & Financial Investment News

News Breaks
December 26, 2012
06:03 EDTRENNRenren renews share repurchase program
Renren announced that its board of directors has authorized the renewal of the company's share repurchase program dated September 29, 2011 for another 12 months from January 1, 2013 to December 31, 2013. During this 12-month period, Renren is authorized, but not obligated, to repurchase up to $48.2M of its American Depositary Shares, representing the remaining balance of its previously announced share repurchase plan that ended in September this year. Renren plans to fund repurchases made under this program from its available cash balance. Under the original share repurchase program of $150M, the company had repurchased 24.2M ADS in total for an aggregate consideration of $101.8M.
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