Agora, Inc. (NASDAQ: API) (“Agora”), a pioneer and leading platform for real-time engagement APIs, today announced that its board of directors (the “Board”) has authorized a share repurchase program under which Agora may repurchase up to US$200 million of its Class A ordinary shares in the form of American depositary shares over the next 12 months, subject to relevant rules under the Securities Exchange Act of 1934, as amended, and Agora’s insider trading policy.
“The share repurchase program demonstrates the Board’s confidence in the fundamentals, strategies and long-term growth potential of Agora,” commented Tony Zhao, founder, chairman, and CEO of Agora. “It reflects our commitment to enhancing shareholder value, and our strong cash position will enable us to continue to invest in our technology and business expansion at the same time.”
