Tuniu to repurchase $100 mn ordinary shares
12/01/2018 15:39
Tuniu Corporation, a leading online leisure travel company in China, on Thursday said that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to USD 100 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 plans to fund repurchases from its available cash balance.

In addition, Tuniu announced the promotion of Shihong Chen from Vice President to Chief Technology Officer, effective immediately. Chen is currently in charge of the Company's research and development, website and mobile, and accommodation reservation. He joined Tuniu in 2011 and was previously the head of the transportation business unit.