Zhihu Launches Tender Offers to Repurchase up to $54.8 Million of Shares

Zhihu (ZH) said Monday it has launched all-cash tender offers to repurchase up to about 46.9 million of its class A ordinary shares, including in the form of American depositary shares, for 9.11 Hong Kong dollars ($1.17) apiece or $3.50 per ADS.

The total purchase price would be about $54.8 million, the company said.

The offer will expire on Oct. 30, Zhihu said.

Shares of the company were up 4.4% in recent Monday premarket activity.

Price: 3.3500, Change: +0.14, Percent Change: +4.36