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.The material has been provided by InstaForex Company – www.instaforex.com
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