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Mogu Shares Jump On $10M Stock Buyback Plan

Mogu Inc (NYSE:MOGU) board of directors has authorized a new share repurchase program of up to $10 million of its shares.…
byShivani Kumaresan
September 9, 2022
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  • Mogu Inc (NYSE:MOGU) board of directors has authorized a new share repurchase program of up to $10 million of its shares.
  • The share buyback plan will be effective until August 31, 2023. 
  • The company expects to fund the repurchases under this program with its existing cash balance.
  • The company’s board of directors will review the share repurchase program periodically and may authorize adjustment of its terms and size.
  • Mogu held $100.4 million in cash and equivalents as of March 31, 2022.
  • Price Action: MOGU shares are trading higher by 42.8% at $2.86 in premarket on the last check Friday.
 
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