LightInTheBox Holding Co., Ltd.'s board of directors recently authorized a US$10 million stock buyback program
LightInTheBox Holding Co., Ltd. (LITB), a global apparel e-commerce retailer, has revealed its plans to initiate a share repurchase program. The company's board of directors recently authorized the program, allowing LightInTheBox to repurchase up to US$10 million worth of its ordinary shares in the form of American Depositary Shares. This strategic move highlights the company's strong belief in its operating fundamentals, business prospects, and commitment to enhancing shareholder value.
Mr. Jian He, the Chairman and CEO of LightInTheBox, expressed the board and management's confidence in the company's strategic direction and future growth prospects. The implementation of the share repurchase program reinforces their belief in the company's ability to generate long-term value for its shareholders.
LightInTheBox's share repurchases will be executed using various methods, including open-market transactions, privately negotiated transactions, block trades, and other legally permissible means. This flexibility will allow the company to adapt to market conditions and optimize the timing and conditions of the repurchases.
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