- The stock price of Four Seasons Edu (Cayman) Inc (NYSE: FEDU) is trading at over 70% pre-market. This is why it happened.
The stock price of Four Seasons Edu (Cayman) Inc (NYSE: FEDU) – a leading Shanghai-based educational company dedicated to providing comprehensive after-school education services with a focus on high-quality math education – is trading at over 70% pre-market. Investors appear to be responding positively to Four Seasons Education (Cayman) announcing that effective today the board of directors of the company approved a share repurchase program whereby Four Seasons Education is authorized to repurchase its own ordinary shares in the form of American depositary shares (ADSs) with an aggregate value of up to US$15 million during the next 12-month period.
The company plans to fund the repurchase program out of its available working capital, existing cash balance or future cash provided by operating activities. And the share repurchases under the 2021 program may be made from time to time through various means, including open market purchases and privately negotiated transactions.
The per share price cap will be determined from time to time at the discretion of the Chief Executive Officer, as authorized by the Board. And the proposed share repurchase may be effected on the open market at prevailing market prices, depending on a number of factors, including share price, trading volume, and general market conditions along with the company’s working capital requirements, general business conditions, and other factors.
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