Vipshop rises on $500 mln share buyback program

Vipshop Holdings

31/03/2023 11:28

** Shares of e-commerce discount retailer Vipshop Holdings
Ltd  VIPS.N  up 1.5% at $15.54 premarket
    ** China-based co authorizes new share buyback program for
repurchase of upto $500 mln of its American depositary shares
through March, 2025
    ** Expects to fund the repurchases out of its existing cash
balance
    ** Vipshop market capitalization stood at $8.98 bln, as of
last close - Refinitiv 
    ** YTD, stock has gained 12.3% through Thursday's close

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