Cango rises on new share buyback program

Cango

21/04/2023 11:57

** U.S.-listed shares of Chinese automotive financing
services provider Cango Inc  CANG.N  up ~6% at $1.21 premarket
    ** Co says board approves new repurchase of up to $50 mln of
American depository shares
    ** Adds, co to buy back shares over the next 12 months
starting April 25
    ** Says plans to fund repurchases from its existing cash
balance
    ** Up to Thursday's close, stock had fallen 12.8% so far in
2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))