BEIJING, June 6, 2023 /PRNewswire/ -- New Oriental Education & Technology Group Inc. ("New Oriental" or the "Company") (NYSE: EDU and SEHK: 9901), a provider of private educational services in China, today announced that its board of directors has authorized the Company to extend its share repurchase program launched in July 2022 (the "Share Repurchase Program"), over the next twelve months through May 31, 2024. As of May 31, 2023, the Company had repurchased approximately US$191 million worth of its ADSs under the Share Repurchase Program, and a balance of approximately US$209 million authorized under the Share Repurchase Program had not been utilized. Pursuant to the extended share repurchase program, the Company may repurchase up to approximately US$209 million of its shares in the form of ADSs and/or common shares through May 31, 2024.
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