NQ Mobile (NQ) Approves $150M Buyback of Shares and Convertible Notes

NQ Mobile Inc. (NYSE: NQ), a leading global provider of mobile internet services, today announced that its board of directors has authorized a buyback program under which the Company may repurchase up to US$150 million of its shares or convertible notes over the next 12 months. The repurchases may be made from time to time on the open market, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. NQ Mobile plans to fund repurchases made under this plan from its existing cash balance.

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