The9 Limited (NCTY) to Buyback $50M Worth of Common
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The9 Limited (Nasdaq: NCTY) today announced that its Board has approved a buy-back of up to $50 million of its American Depositary Shares, each of which represents one share of The9's ordinary shares. The company will buy the shares in the open market and expects the purchases to be funded from existing cash reserves.
The9 Limited, through its subsidiaries, engages in the development and operation of online games, and Internet and Web site related businesses in the People's Republic of China.
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