MINISO launches $256m share repurchase program

The repurchases will be funded using surplus cash on MINISO’s balance sheet. 

MINISO Group Holding has approved a new share repurchase program, allowing for up to $256m (HKD2b) in buybacks of its ordinary and American depositary shares over the next year.

The repurchases will be funded using surplus cash on MINISO’s balance sheet. The board expressed confidence in the company’s business prospects, noting that the current share price is below its intrinsic value. The program aims to benefit shareholders by balancing the company’s growth with a commitment to providing stable returns.

Shares may be repurchased through various methods, including open market purchases and private transactions, in compliance with market regulations. The program will follow the Share Repurchase Mandate, permitting up to 10% of the total issued shares annually.

MINISO will avoid repurchasing shares when in possession of non-public information and during specific financial reporting periods. 

The company said it plans to review and potentially adjust the program as needed. Repurchased shares may be canceled or kept as treasury shares, depending on market conditions.