Yiren Digital (YRD) said Thursday its board approved a new $20 million share repurchase program, allowing it to buy back up to 10% of its outstanding shares or American depositary shares over the next 12 months.
The company said it may repurchase shares through open-market purchases, privately negotiated transactions, block trades, or other permitted methods.
Yiren Digital said it will fund the buybacks with its existing cash balance.