Onion Global Limited (NYSE:OG) announces a share repurchase program. Under the program, the company will repurchase up to 2,068,900 American depositary shares, representing 206,890 Class A ordinary shares from the selling shareholder. The company has entered into a private share repurchase agreement with a third party investor (the selling shareholder) on a privately negotiated basis to repurchase its American depositary shares.

The purpose of the program is to boost shareholders' confidence. The closing of the transaction is expected to occur within three business days from June 29, 2022.