Uber launches $1.5 billion accelerated share repurchase - Breaking The News

Uber launches $1.5 billion accelerated share repurchase

6 January

1 min read

EPA-EFE/WILL OLIVER

Uber Technologies, Inc. announced on Monday a $1.5 billion accelerated share repurchase (ASR) program as part of its $7 billion buyback authorization.

The agreement, executed with Bank of America, aims to retire over 1% of the company's market capitalization. Initial delivery includes 18.58 million shares, representing 80% of the total shares to be repurchased, with transactions expected to conclude in Q1 2025.

Chief Financial Officer Prashanth Mahendra-Rajah described the move as a response to undervaluation, stating, "Our stock is undervalued relative to the strength of our business. This ASR represents a value-enhancing deployment of capital."

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