09:57 AM EDT, 06/05/2024 (MT Newswires) -- X Financial ( XYF ) said Wednesday that it has launched a tender offer to buy up to 2 million of its American depositary shares, each representing six class A ordinary shares, for $4.52 per ADS.

The tender offer, which will expire at 5 p.m. ET on July 12 unless extended or terminated earlier, is part of a $20 million share- buyback program approved by the company's board in May.

Shares of X Financial ( XYF ) were up 1.2% in early trading.

Price: 4.26, Change: +0.05, Percent Change: +1.24