Tuniu announces $ 10 million share buyback program
NANJING, China, September 30, 2020 / PRNewswire / – Tuniu Corporation (NASDAQ: TOUR) (“Tuniu” or the “Company”), a leading online travel company in China, announced today that its board of directors has approved a share buyback program that will allow the company up to $ 10 million Value of its common stock, or American Depositary Shares representing common stock, over the next 12 months.
The repurchases proposed by the Company may from time to time be made in the open market at prevailing market prices, in privately negotiated transactions, in block deals and / or in any other legally permissible manner, depending on market conditions and in accordance with applicable rules and regulations . Tuniu plans to fund buybacks from its available cash balance.
Tuniu (Nasdaq: TOUR) is a leading online vacation travel company in China which offers a wide range of package tours, including organized and self-guided tours, as well as travel-related services for private travelers through its tuniu.com website and mobile platform. Tuniu covers over 420 departing cities everywhere China and all popular travel destinations worldwide. Tuniu provides one-stop vacation travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service agents, 24/7 call centers, extensive networks of offline retail stores and self-operated local tours Operator. More information is available at http://ir.tuniu.com.
Safe Harbor Statement
This press release contains forward-looking statements made pursuant to the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expected,” “anticipated,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Tuniu may also make forward-looking statements, whether written or oral, in its reports filed with the Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements from its officers, directors or employees to third parties. All statements that are not historical facts, including statements about Tunius’ beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. These factors and risks include but are not limited to: Tunius’ goals and strategies; the growth of the online leisure travel market in China; the demand for Tunius products and services; its relationships with customers and travel providers; the company’s ability to offer competitive travel products and services; the future business development, results of operations and financial position of Tunius; Competition in the online travel industry in China; relevant government policies and regulations relating to the structure, business, and industry of the company; the impact of COVID-19 on Tunius’ business, the travel industry and the economy of China and elsewhere in general; and the general economic and business situation in China and elsewhere. For more information about these and other risks, uncertainties or factors, see the Company’s filings with the US Securities and Exchange Commission. All information provided in this press release is current at the time of the press release and Tuniu assumes no obligation to update this information unless required by applicable law.