China’s Dingdong authorises $20m share repurchase programme

The company may implement proposed repurchases until 28 January 2025.

Major Chinese grocery e-commerce company Dingdong has approved a share repurchase programme wherein the company may repurchase over $20m of shares over a period until 28 January 2025.

Dingdong’s proposed repurchases can be implemented anytime on the open market at prevalent market prices and other legally permissible means, under current market conditions and according to rules and regulations.

The management may employ the share repurchase, including plans under Rule 10b5-1 and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934.

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Following the approval, Dingdong’s board of directors will examine the share repurchase program intermittently and may implement adjustments of terms and size. Dingdong also anticipates financing the repurchases out of its existing balance.