Opera Limited American Depositary Shares - OPRA STOCK NEWS

Opera Limited (NASDAQ: OPRA) has completed the repurchase of 46.75 million shares from Qifei International Development, a subsidiary of 360 Security Technology, for $128.6 million at $5.50 per ADS. This buyback clears 360's 20.6% stake, simplifying ownership and increasing each outstanding share's ownership by 26%. The transaction values the shares at 43% below analyst targets. Opera has now repurchased 33.7 million ADS equivalents since its IPO, bolstering shareholder value while leaving $36 million under its existing repurchase program.

Opera Limited (NASDAQ: OPRA) has announced that shareholders of 360 Security Technology Inc. have approved a share repurchase agreement with Opera's pre-IPO shareholder, Qifei International Development Co. Ltd. Following the completion of this transaction, 360 will exit its position as a shareholder in Opera. The transaction is expected to close within 10 business days. This move strengthens Opera's shareholder structure and may enhance shareholder value by reducing the number of outstanding shares.

Opera GX has launched the #GamingForAll Challenge in collaboration with TikTok to promote inclusivity in gaming. The initiative encourages gamers to play without sight, inspired by BlindWarriorSven, a blind Street Fighter champion. For each video uploaded, Opera will donate $0.5 to AbleGamers, up to $25,000. The campaign kicks off with a live event in Amsterdam on October 2, allowing participants to meet Sven and compete in Street Fighter V. This effort underscores Opera's commitment to making gaming accessible to everyone.

Opera Limited (NASDAQ: OPRA) announced an agreement to acquire a 20.6% stake from pre-IPO shareholder Qifei International Development Co. Ltd. for $128.6 million in cash. The deal values the share price at $5.50 per American Depositary Share (ADS). The transaction requires approval from 360's shareholders at a scheduled meeting on October 10, 2022, with an expected closing within 10 business days post-approval. This move is pivotal for Opera, potentially enhancing shareholder value and consolidating control.

Opera GX has announced the Mobile Game Jam, an initiative inviting developers to create a game for its mobile browser's 'No Internet' page. This event, running from October 4, 2022, features a $36,000 prize pool, with $10,000 awarded to the top game. The initiative aims to transform offline gaming experiences for users facing connectivity issues. Opera GX, the only browser designed specifically for gamers, emphasizes community involvement, having seen over 1,900 unique game submissions in past events.

Opera (NASDAQ: OPRA) announces a major update to its Crypto Browser, now integrating support for MetaMask and other key wallets. A new Wallet Selector feature simplifies wallet management for users, eliminating common inconveniences associated with accessing dApps. The browser partners with DappRadar, providing access to over 11,000 dApps. Enhanced security features are introduced, including phishing protection and secure clipboard functionality. This launch comes amid heightened institutional interest in crypto, with investments in crypto projects significantly increasing in 2022.

Opera Limited (NASDAQ: OPRA) reported a robust Q2 2022, with revenue rising 29% year-over-year to $77.8 million, driven by strong product portfolio growth. Adjusted EBITDA margin reached 21%. The company announced a buyback of 1.3 million ADSs and raised its 2022 revenue guidance to $313-$319 million, expecting 26% growth. Despite a net loss of $5.8 million, the average revenue per user surged 46% to $0.94. Cash and marketable securities totaled $187 million, bolstering financial stability.

Opera Limited (NASDAQ: OPRA) announced a change in the timing of its Q2 2022 earnings release to align with its controlling shareholder Kunlun Tech Co., Ltd. The new release date is scheduled for August 30, 2022, before the market opens. Management will discuss the results during a conference call at 8:00 am EDT on the same day. Opera, based in Oslo, Norway, is a leading web innovator known for its browsers, news products, and fintech solutions, serving hundreds of millions of users globally.

Opera Limited (NASDAQ: OPRA) is scheduled to release its second quarter 2022 financial results on August 18, 2022, before the market opens. The report will be accessible on their investor relations website. Following the announcement, management will host a conference call at 8:00 am EDT to discuss the financial results. Interested parties can access the call via a live webcast or by dialing specific international numbers, including the US and China. Opera, headquartered in Oslo, Norway, is recognized as a major browser developer and a leading internet consumer brand.