Yiren Digital Authorizes $20 Million Stock Buyback Program

Yiren Digital Ltd. (NYSE: YRD ) stock rose on Thursday after the company announced a new share repurchase program. Yiren Digital Authorizes Buyback The board authorized Yiren Digital to repurchase up to 10% of its total issued and outstanding ordinary shares and/or American depositary shares for up to $20 million over the next 12 months. The company may conduct repurchases in the open market, privately negotiated transactions, block trades, or other legally permitted methods, including Rule 10b5-1 trading plans. Repurchase Timing And Funding Yiren Digital said the timing and size of any buybacks will depend on market conditions, trading price, trading volume, and other factors. The board will periodically review the program and may adjust its terms or size. The company expects to fund the repurchases with its existing cash balance. Read Also: China's Latest Fintech-Lending Crackd...