CaoCao (HKG:2643) approved a share buyback plan of up to HK$200 million for a period of one year, according to a Thursday Hong Kong bourse filing.
The ride-hailing company may buy back up to 54.4 million shares, representing 10% of its total shares in issue.
The repurchased shares may be cancelled or held as treasury shares, depending on market conditions and capital management needs.
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