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Qihoo 360 announces 200 million dollar share repurchase plan

Source: Internet
Author: User
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Summary: Check out the latest quotes Beijing time October 2 morning, Qihoo 360 (Nyse:qihu) announced today that the company's Board of Trustees has authorized it to buy back up to 200 million U.S. depository Shares (ADS). These stock transactions may be bought through the open market or privately negotiated to see the latest quotes

October 2 morning in Beijing, Qihoo 360 announced today that its Board of Trustees has authorized it to buy back up to $200 million trillion of U.S. depository shares (ADS).

These shares may be traded through open market purchases or privately negotiated deals. The money required for the repurchase comes from the company's existing cash reserves and continuing cash flow.

As of June 30, 2014, the balance of cash and cash equivalents for Qihoo 360 was about $787 million. The company also financed about 1 billion dollars by issuing convertible bonds in August 2014. (PEI)


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