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Article: Shanda Interactive Entertainment Limited Announces $200 Million Share Repurchase Plan.
- Article from:
- PR Newswire
- Article date:
- September 8, 2008
CopyrightCOPYRIGHT 2008 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, Sept. 8 /Xinhua-PRNewswire/ -- Shanda Interactive Entertainment Limited (Nasdaq: SNDA, "Shanda" or the "Company"), a leading interactive entertainment media company in China, today announced that its Board of Directors has approved a share repurchase program. Under the program, the Company is authorized to repurchase up to $200 million worth of its outstanding American Depositary Shares ("ADSs") representing the ordinary shares of the Company 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 ...