Benzinga | Nov 30, 2021 04:44PM EST

Baozun Plans $50M Share Repurchase Program

* Baozun Inc (NASDAQ:BZUN) announced its board of directors had authorized a new share repurchase program to repurchase up to $50 million of its outstanding American Depositary Shares and Class A ordinary shares.

* The buyback will take place over the next 12 months, starting from November 30, 2021.

* The company said it has already completed its $125 million share repurchase program announced on May 18, 2021.

* Baozun held $427 million in cash and equivalents as of September 30, 2021.

* Price Action: BZUN shares are trading lower by 8.22% at $13.62 in premarket on the last check Tuesday.