Meituan-W plans to repurchase Class B common shares in the public market for a total amount not exceeding USD 2 billion

According to the news from Zhitong Finance and Economics APP, Meituan-W (03690) has announced that the board of directors of the company has resolved to repurchase the company's Class B ordinary shares in the public market for a total amount not exceeding USD 2 billion, based on the general share repurchase authorization passed by the company's shareholders at the annual general meeting held on June 30, 2023, and any subsequent general share repurchase authorization approved or renewed by shareholders from time to time (if applicable).

The announcement stated that the share repurchase demonstrates the company's confidence in its business outlook and prospects, and will ultimately benefit the company and create value for shareholders. The board of directors believes that the company's existing financial resources are sufficient to support the share repurchase while maintaining a sound financial position