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Chinese job board and HR provider 51Job Inc. (JOBS: NSDQ) announced at its extraordinary general meeting today that shareholders approved the increase in the size of the share repurchase programme to USD 75 million.
The initial share repurchase programme was approved by shareholders on 30 September 2008.
In addition, shareholders approved an amendment to the company’s articles of association to allow the company to purchase its own securities with the approval of the board, without any further action from shareholders.
In trading today, following the announcement, the company’s share price rose by +0.2% to USD 61.61, an increase of +3.3% compared with a year ago. Based on its current share price, the company has a market value of USD 1.9 billion.
51job Inc. is listed on the New York stock exchange and provides recruitment related services and human resource services; such as business process outsourcing and executive search.