share repurchase

On September 26, 2025, Shell plc repurchased 948,416 shares across multiple exchanges as part of its ongoing buyback program announced on July 31, 2025. 499,035 shares were bought on the LSE and associated platforms (price range: £27.0850-£27.3900) and 449,381 shares on European exchanges (price range: €31.1100-€31.5200). HSBC Bank plc manages the program independently, adhering to UK and EU regulations. The buyback, slated to continue until October 24, 2025, aims to enhance shareholder value.

On September 16, 2025, American Financial Group (AFG) announced a $350 million registered offering of Senior Notes at 5.0%, maturing September 23, 2035, priced at 99.162% of principal. Net proceeds, estimated at $344 million, will be used for general corporate purposes, including potential share repurchases. The offering, managed by BofA Securities, J.P. Morgan, and Wells Fargo, is expected to close September 23, 2025. The offering is made under an effective shelf registration statement filed with the SEC. AFG is an insurance holding company focused on property and casualty insurance.

Mount Logan Capital and 180 Degree Capital completed their all-stock merger, forming Mount Logan Capital Inc. (MLCI), which will trade on NASDAQ starting September 15, 2025. The deal, valued at US$122.7 million (US$9.43/share), results in Mount Logan shareholders owning 56.4% and 180 Degree Capital shareholders owning 43.6%. MLCI plans a US$15 million tender offer and up to US$10 million in repurchases over the next 24 months. The merger aims to create a stronger asset management platform with improved NASDAQ access.

Wix (WIX) priced $1.0 billion of 0.00% Convertible Senior Notes due 2030. The initial conversion price is $210.49 per share. Wix will use the proceeds for capped call transactions ($62.5M), share repurchases ($75M), and general corporate purposes. The capped call transactions aim to minimize dilution, with an initial cap price of $267.89. The notes mature on September 15, 2030, unless earlier repurchased or converted. Upsized from $750M, the offering reflects investor confidence.

STMicroelectronics (STM) reported its share repurchase program status for August 25-29, 2025. The company repurchased 271,723 shares (0.03% of issued capital) at €23.4140 per share, totaling €6,362,126.30. Approved on May 22, 2024, the program aims to cover share option program obligations and employee allocations. STM now holds 18,960,219 treasury shares, about 2.1% of issued capital. Detailed trade information is on STM’s investor relations website.

ATRenew Inc. (NYSE: RERE) reported strong Q2 2025 results, with net revenues up 32.2% YoY to RMB 4,991.5 million ($696.8 million). The company achieved profitability with income from operations of RMB 91.1 million ($12.7 million), a significant improvement from the previous year. The number of transacted consumer products grew to 10.3 million. ATRenew anticipates Q3 2025 revenue between RMB 5,050.0 million and RMB 5,150.0 million. A new $50 million share repurchase program was authorized.

BingEx (FLX) reported Q2 2025 revenue of RMB1,024.6 million (US$143.0 million), down from RMB1,176.7 million YoY, due to market competition. However, gross profit margin improved to 12.0% from 10.8%. Net income was RMB53.5 million (US$7.5 million). The company fulfilled 64.8 million orders and repurchased approximately 0.8 million ADSs for US$2.6 million under its share repurchase program. They maintain a strong cash position of RMB827.8 million (US$115.6 million).

The Bancorp, Inc. (TBBK) has successfully completed a $200 million offering of 7.375% Senior Notes due 2030, generating approximately $197 million in net proceeds. The Bancorp intends to use the funds to redeem existing senior notes, repurchase shares, and support general corporate purposes, including expansion of The Bancorp Bank, National Association. The notes, maturing on September 1, 2030, feature semi-annual interest payments and redemption options. Piper Sandler & Co. and Raymond James & Associates, Inc. managed the deal.

Kemper Corporation (KMPR) announced a $150 million accelerated share repurchase (ASR) agreement with Goldman Sachs, part of its $550 million authorization. The insurer believes shares are undervalued and the ASR demonstrates confidence in its business. Kemper will pay Goldman Sachs $150 million on August 14, 2025, receiving an initial 2,279,203 shares. The final number depends on the volume-weighted average price of Kemper’s stock. The ASR is expected to conclude within three months. Kemper is a specialized insurer with $13 billion in assets, serving 4.7 million policies.

Qudian Inc. reported its Q2 2025 unaudited financial results, revealing a strategic shift. Revenue sharply decreased to RMB3.5 million, while net income attributable to shareholders significantly increased to RMB311.8 million. The company is winding down its last-mile delivery operations due to heightened competition, focusing on sustainable growth. Despite operating losses of RMB113.9 million, investment income surged by 392.3% to RMB440.5 million. Qudian held RMB4,029.0 million in cash and equivalents. The company continues its share repurchase program, having bought back $54.6 million worth of ADSs since June 2024.