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Article: Shanda Interactive Entertainment Approves Share Repurchase Plan.
- Article from:
- PR Newswire
- Article date:
- March 9, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SHANGHAI, China, March 9 /Xinhua-PRNewswire/ -- Shanda Interactive Entertainment Limited , or Shanda, a leading interactive entertainment media company in China, today announced that its Board of Directors has approved a share repurchase program, effective March, 2007. Under the program, Shanda is authorized to repurchase up to $50 million worth of outstanding American Depositary Shares (ADSs) representing the ordinary shares of Shanda from time to time over the next 12 months, depending on market conditions, share price and other factors, as well as subject to the relevant rules under United States securities regulations. The share repurchases may be made on the open ...