GUANGZHOU, China,Dec. 21, 2021/PRNewswire/ -- MINISO Group Holding Limited (NYSE:MNSO) ("MINISO Group", "MINISO" or the "Company"), a fast-growing global value retailer offering a variety of design-led lifestyle products, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up toUS$200 million of its outstanding Class A ordinary shares and/or American depositary shares representing its Class A ordinary shares, effective until September 21, 2022. The Company expects to fund repurchases under this program from surplus cash on its balance sheet.
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 and its insider trading policy. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
About MINISO Group Holding Limited
MINISO is a fast-growing global value retailer offering a variety of design-led lifestyle products. The Company serves consumers primarily through its large network of MINISO stores, and promotes a relaxing, treasure-hunting and engaging shopping experience full of delightful surprises that appeals to all demographics. Aesthetically pleasing design, quality and affordability are at the core of every product in MINISO's wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store inChinain 2013, the Company has built its flagship brand "MINISO" as a globally recognized retail brand and established a massive store network worldwide. For more information,