11:10 AM EDT, 05/14/2024 (MT Newswires) -- Mogu ( MOGU ) said Tuesday its board authorized a stock repurchase program of up to $8 million of ordinary shares in the form of American depositary shares, effective until May 13, 2025.

The company intends to finance the program with cash on hand.

Shares of the company rose 9.3% in recent Tuesday trading.

Price: 2.00, Change: +0.17, Percent Change: +9.29