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Jumei Announces Share Repurchase Program

Its board of directors has authorized a share repurchase program.

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By: Marie Redding

Senior Editor, Rodman Media

Jumei International Holding Limited, China’s leading online retailer of beauty products, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$100 million of its shares over the next 12 months.

The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. Jumei’s board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund repurchases from its existing cash balance.

Mr. Leo Ou Chen, chairman and founder of Jumei, commented, “The implementation of our share repurchase program reflects the confidence that our  management have in Jumei’s growth prospects and operating fundamentals. This repurchase program reflects a commitment by our  management to enhance value for our shareholders while retaining adequate flexibility for future growth.”

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