"Ah. About those shares... we need them back now. We're about to do some cool stuff."

Gamesindustry.biz is reporting that Chinese company The9 is buying back $50 million of its own shares, believing that they're undervalued and that the company is poised for rapid growth in the near future.

Today, The9 Limited announced that they have authorized a buy-back of up to $50 million of the company's shares. Each of these American Depositary Shares represent one share of The9's ordinary shares. The Chinese online game operator will purchase the shares in open market, funded by existing cash reserves.

Read the story at Gamesindustry.biz.