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6-K: New Oriental Extends Share Repurchase Program

SEC ·  May 24 19:01
Summary by Futu AI
New Oriental Education & Technology Group Inc. (New Oriental), a leading provider of private educational services in China, has announced the extension of its share repurchase program. The program, which was initially launched in 2022 and amended in 2023, is now set to continue through May 31, 2025. As reported on May 24, 2024, the company has already repurchased approximately $246.3 million worth of its American Depositary Shares (ADSs) and still has around $153.7 million authorized for future repurchases. The buybacks will be conducted through various methods such as open market transactions, privately negotiated transactions, block trades, or other legal means, subject to market conditions and regulatory requirements. The board of directors of New Oriental will periodically review and may adjust the terms and size of the Share Repurchase Program. The company's ADSs, each representing ten common shares, are traded on the New York Stock Exchange (NYSE), and its shares are also listed on the Stock Exchange of Hong Kong (SEHK), with full fungibility between the two.
New Oriental Education & Technology Group Inc. (New Oriental), a leading provider of private educational services in China, has announced the extension of its share repurchase program. The program, which was initially launched in 2022 and amended in 2023, is now set to continue through May 31, 2025. As reported on May 24, 2024, the company has already repurchased approximately $246.3 million worth of its American Depositary Shares (ADSs) and still has around $153.7 million authorized for future repurchases. The buybacks will be conducted through various methods such as open market transactions, privately negotiated transactions, block trades, or other legal means, subject to market conditions and regulatory requirements. The board of directors of New Oriental will periodically review and may adjust the terms and size of the Share Repurchase Program. The company's ADSs, each representing ten common shares, are traded on the New York Stock Exchange (NYSE), and its shares are also listed on the Stock Exchange of Hong Kong (SEHK), with full fungibility between the two.
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