Ctrip announces Board approval to use cash to buy back stock

Source: Internet
Author: User
Keywords Ctrip stock repurchase plan announced
Tags buy back stock company convertible convertible bonds ctrip market open market select

Ctrip (NASDAQ Global Select Market: CTRP) announced today that the company's board of Trustees has approved a new stock repurchase scheme with a maximum repurchase amount of $600 million.

Ctrip is expected to use existing cash to buy back the stock, which is currently held mainly in cash-form revenues and cash from the company's convertible bonds issued in 2012 and 2013.

The repurchase will be executed in accordance with the 10b5-1 and/or 10b-18 terms of the 1934 US Securities Trading Act, in accordance with the open market current price or outside the market.

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