- 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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