09:15 AM EST, 12/19/2024 (MT Newswires) -- X Financial ( XYF ) said Thursday it has signed a deal with a "major" stockholder to buy back about 6.3 million American depositary shares representing about 38.1 million class A shares at $7.67 per ADS for a total of $48.7 million.

The company said that in relation to the deal, its board approved a new up to $50 million share buyback plan, expiring June 30, 2026.

After the $48.7 million repurchase, the company's two previous stock buyback plans will be completed with about $15.9 million remaining under the new plan, X Financial ( XYF ) said.