ASR协议下的交易预计将于2025年第一季度完成。Uber Technologies announced on Tuesday that it has signed an Accelerated Share Buyback (ASR) agreement to repurchase $1.5 billion of common stock. This accelerated buyback is part of its previously announced $7 billion share buyback authorization.
According to Zhito Finance APP, Uber Technologies (UBER.US) announced on Tuesday that it has signed an Accelerated Share Buyback (ASR) agreement to repurchase $1.5 billion of its common stock. The accelerated buyback is part of its previously announced $7 billion share buyback authorization. Boosted by this news, Uber's stock price rose nearly 5% in pre-market trading on Monday.
Under the ASR agreement, Uber will pay $1.5 billion to the dealer and is expected to receive an initial delivery of 18,578,727 shares of common stock, which represents approximately 80% of the common stock anticipated to be repurchased by the company under the ASR agreement. The total number of shares repurchased by Uber under the ASR agreement will be based on the volume-weighted average price of Uber's common stock on specified dates during the term of the ASR agreement.
The transactions under the ASR agreement are expected to be completed in the first quarter of 2025.
Uber's Chief Financial Officer Prashanth Mahendra Rajah stated, "We are entering 2025 with significant momentum and expect to continue to substantially expand our free cash flow, allowing us to return meaningful capital to shareholders while investing in growth."
"Compared to our business strength, our stock is undervalued, so we plan to accelerate the buyback under the existing authorization. This ASR represents a capital allocation that enhances value, equivalent to more than 1% of our Market Cap."
