OneSmart International, a Chinese kindergarten to 12th grade after school education service provider, announced that its board of directors has authorized a share repurchase program to repurchase up to $30 million worth of its shares over the next 12 months, subject to market conditions.
OneSmart's board of directors will review the share repurchase program periodically and may authorize adjustments of its terms and size.
The company plans to fund repurchases from its existing cash balance or future cash generated by operating activities.
Share repurchases may be made by OneSmart from time to time in open market transactions at prevailing market prices, block transactions, and or in privately negotiated transactions.