Tuniu (TOUR) Approves $150M Common Stock Buyback Plan

August 23, 2016 5:57 AM EDT
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Tuniu Corporation's (NASDAQ: TOUR) Board of Directors has authorized a share repurchase program under which the Company may repurchase up to US$150 million worth of its ordinary shares or American depositary shares representing ordinary shares over the next 12 months.

The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. Tuniu's Board of Directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. Tuniu plans to fund repurchases from its available cash balance.

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