12:13 PM EST, 11/22/2024 (MT Newswires) -- (Updates with the latest stock movement in the first paragraph and headline.)

StoneCo ( STNE ) shares were up nearly 11% in recent Friday trading after the financial services and technology provider said late Thursday it's board authorized the repurchase of up to 2 billion Brazilian reais ($343.9 million) in Class A common shares.

The buyback program has no expiration date.

The new authorization replaces a previous share repurchase program launched about a year ago in which the company bought back 13.2 million shares for $178.3 million, the company said.

Price: 10.28, Change: +1.01, Percent Change: +10.84