SHANGHAI, Oct. 25,
2024 /PRNewswire/ -- Nisun International Enterprise
Development Group Co., Ltd. ("Nisun International" or the
"Company") (Nasdaq: NISN), a technology and industry driven
integrated supply chain solutions provider, today announced that
the Company has repurchased 39,112 shares of its stock at an
average price of $14.1263 per share
for total proceeds of $552,508 under
its $15 million share buyback
program, which was announced on October 9,
2024.
The repurchases of the Company's shares were made on
October 17, 2024.
The Company believes that this buyback is an excellent use of
its cash, as the stock is currently trading at a significant
discount to cash value and at a price-to-earnings (P/E) ratio of
less than 3. The repurchases are expected to be accretive to
earnings per share (EPS), benefiting existing shareholders as the
Company's outstanding shares are reduced. Nisun International plans
to continue acquiring shares under the buyback program as part of
its ongoing commitment to enhancing shareholder value.
"We are confident in Nisun International's long-term growth
potential and believe that repurchasing shares at current prices
represents a compelling opportunity for the Company and its
shareholders," said Mr. Xin Liu, CEO
of Nisun International. "With the stock trading at such a steep
discount, we see this as an effective way to deploy capital,
generate strong returns for investors, and increase EPS through the
buybacks."
About Nisun International Enterprise Development Group Co.,
Ltd.
Nisun International Enterprise Development Group Co., Ltd.
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun International
is dedicated to providing professional supply chain solutions to
Chinese and foreign enterprises and financial institutions. Through
its subsidiaries, Nisun International provides users with
professional solutions for technology supply chain management,
technology asset routing, and digital transformation of tech and
finance institutions, enabling the industry to strengthen and grow.
At the same time, Nisun International continues to deepen the field
of industry segmentation through industrial and financial
integration. Focusing on industry-finance linkages, Nisun
International aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform. For more information, please visit
http://ir.nisun-international.com/
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about
Nisun International 's view of its future
expectations, plans and prospects that constitute forward-looking
statements. Actual results may differ materially from historical
results or those indicated by these forward-looking statements as a
result of a variety of factors including, but not limited to, risks
and uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
International encourages you to review other factors that may
affect its future results in Nisun International 's registration
statement and in its other filings with the Securities and Exchange
Commission. Nisun International assumes no obligation to update or
revise its forward-looking statements as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
View original
content:https://www.prnewswire.com/news-releases/nisun-international-announces-an-initial-share-repurchases-of-approximately-550-000-under-its-15-million-buyback-program-302287107.html
SOURCE Nisun International Enterprise Development Group Co.,
Ltd