07:17 AM EDT, 06/11/2024 (MT Newswires) -- QuantaSing Group ( QSG ) said on Tuesday that its board has authorized a share repurchase program under which the company may repurchase up to $20 million of its Class A ordinary shares in the form of American depositary shares.

The share repurchase program is effective over a 12-month period starting Tuesday and the company said that it plans to fund the repurchases from its existing cash balance.

American depository receipts of QuantaSing Group ( QSG ) were up by around 21% in recent pre-market trade on Tuesday.

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