Odaily Planet Daily News: Cango, a New York Stock Exchange-listed company, announced that its co-founders Xiaojun Zhang and Jiayuan Lin, as well as its holding company, have entered into a securities purchase agreement with Enduring Wealth Capital Limited (EWCL) to sell 10 million Class B common shares for a total purchase price of US$70 million (of which US$15 million will be paid only after certain conditions are met).
Earlier, Cango announced that its board of directors had approved a stock repurchase plan to repurchase issued American Depositary Shares (ADS) and Class A common shares within the next 12 months starting on April 25, 2025, with a repurchase scale of US$30 million. (Prnewswire)