FinVolution [NYSE: FINV] Launch New Share Repurchase Program

FinVolution Group [NYSE: FINV] disclosed Tuesday it has introduced a new share repurchase program. The decision was effective August 24, 2020, as the board member approved the new share repurchase program.

FinVolution has got the approval to repurchase its own Class A ordinary shares in the form of American depository Shares (ADS) with an aggregate value of up to US$60 Million till December 31, 2021.

Shares of FinVolution 8.94% at $2.56 during the trading of Monday. It has a day low and high range of $2.28-$2.56. It had a trading volume of 1.27 million as compared to the average volume of 1.61 million.

In the past 52-weeks of trading, this company’s stocks have fluctuated between the low and high range of $1.22-$4.03, respectively. It has moved up to 109.84% from its 52 weeks low range and moved down -36.48% from its 52-weeks high range.

If we turn our focus on its profitability, its return on assets (ROA) is 11.90%. Its return on investment (ROI) is 26.50% and return on equity (ROE) is 28.20%. Its Gross Margin is 81.90%, Profit Margin is 31.60%, and an Operating Margin is 34.90%.

FinVolution has total market capitalization of 882.61 million. It has reported the sales of 956.10 million.

This new share repurchase program aims to expand the share buyback efforts bringing the total cumulative amount of capital for share repurchase up to US$180 million.

FinVolution is committed to generating long-term value for its shareholders. Earlier it has launched the original share repurchase program of up to US$120 million.