- BEST Inc PREFERABLY board approved a stock repurchase program that allows BEST to repurchase up to $20 million of its stock.
- The authorization is valid for the next 12 months. The Company’s proposed repurchases may be made from time to time through open market transactions at prevailing market prices, privately negotiated transactions, block trades, or any combination.
- BEST’s board of directors will regularly review the share buyback program and may change the terms of the program.
- The Company plans to fund the buybacks from its available working capital.
- BEST held $468.4 million Cash and cash equivalents as of September 30, 2022.
- price action: BEST shares trade 5.20% higher at $0.68 on the latest check Wednesday premarket.
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