FX.co ★ Zhihu Launches All Cash Tender To Buy Back Upto 46.9 Mln Class A Shares For HK$9.11/Share; Stock Up

Zhihu Inc. (ZH) announced on Monday that it has initiated an all-cash tender offer to repurchase up to 46.9 million Class A ordinary shares, including American Depository Shares, at a price of HK$9.11 per share. This buyback will amount to a total of HK$427.5 million, equivalent to approximately $54.8 million.

The tender offer is divided into a U.S. offer and a non-U.S. offer, both of which are set to expire on October 30.

In response to this announcement, Zhihu's stock has risen by 4.82 percent, reaching $3.36 on the New York Stock Exchange.