Noah Holdings To Buy Back Up To $50 Mln Shares - Quick Facts

(RTTNews) - Noah Holdings Limited (NOAH), a wealth and asset management service provider in China, announced Thursday that its board of directors has authorized a share repurchase program of up to $50 million.

Effective on July 8, the company is authorized to repurchase American Depositary Shares for a 12-month period. Over the past 12 months, the Company has repurchased 280,956 ADSs for an aggregate purchase price of approximately $6.4 million.

Kenny Lam, Noah's Group President, said, "We are pleased to have a robust balance sheet and strong cash flows, which enable us to return value to shareholders where appropriate through share repurchases and to invest in opportunities that will further strengthen our core capabilities for the longer term."