NetEase.com plans $100 million buyback

By Associated Press
September 12, 2008 | Comments (0)

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NetEase.com Inc., the China-based Internet and online games service provider, said Friday its board approved the repurchase of up to $100 million of its U.S.-listed shares over the next year.

The company recently completed buying $46.4 million in shares under a program started in July 2007.

A company typically buys its own shares when it thinks the market is undervaluing the stock.

In morning trading, U.S.-listed shares of NetEase.com added 10 cents to $22.39.

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