Nu Holdings Ltd. (NU), a digital banking platform, Thursday announced that it has been authorised to buy back up to $1 billion of its ordinary shares, over a 12-month period beginning June 4.
Nu's operations are now generating significant capital, and the Board determined that repurchasing the Company's shares represents an attractive use of that capital, the company said in a statement.
In pre-market activity, NU shares were trading at $11.83, up 1.64% on the New York Stock Exchange.
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