Lotus Technology (LOT) has released an update.
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Lotus Technology Inc. has entered into a share buyback agreement with Meritz Securities Co., Ltd., involving the repurchase of 17.5 million American Depository Shares. This strategic move is set to provide a 12.5% internal rate of return for the investor, Meritz, as the transaction is expected to close by the end of 2024. The buyback highlights Lotus Technology’s commitment to enhancing shareholder value, potentially impacting its stock performance positively.
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