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NetEase (NTES) Approves New $1B Stock Buyback Plan

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NetEase Announces New Share Repurchase Program

November 15, 2016 4:15 AM EST

BEIJING, Nov. 15, 2016 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES) ("NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced that its Board of Directors has approved a new share repurchase program of up to US$1.0 billion of the Company's outstanding American Depositary Shares (ADSs) for a period not to exceed 12 months. 

Under the terms of the approved program, NetEase may repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. The timing and dollar amount of repurchase transactions will... More