LexinFintech Holdings Ltd. (LX) revealed that its board of directors has approved a share repurchase program, enabling the company to buy back up to US$50 million of its shares over the next twelve months.
Proposed repurchases may be executed through open market transactions at prevailing market prices. The board will periodically review the program and may adjust its terms and size or suspend or discontinue it.
“The Share Repurchase Program demonstrates our confidence in LexinFintech Holdings Ltd business fundamentals and growth opportunities,” said Mr. Jay Wenjie Xiao, Chairman and Chief Executive Officer of the company.
