Xunlei (XNET) said the board has approved a new share repurchase program under which the company may repurchase up to $20 million of ADSs or common shares over the next 12 months. The Board will review the 2024 Share Repurchase Program periodically. The repurchase plan will be funded from the company's cash balance.
Xunlei is a technology company providing distributed cloud services in China. As of March 31, 2024, the company had cash, cash equivalent and short-term investments of approximately $272.5 million.
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