AMTD Digital's Generation Essentials Unit Approves $10 Million Share Buyback Program

MT Newswires Live

06/17

AMTD Digital's (HKD) Generation Essentials (TGE) subsidiary said Wednesday its board has approved a share repurchase program for up to $10 million of its ordinary shares to boost shareholder value.

The company also said controlling shareholder AMTD Digital as well as its directors and management team have voluntarily agreed to not sell any of their Generation Essentials shares for two years.

Generation Essentials said it expects to fund the repurchases from time to time using its existing cash balance.

The company said its board believes its shares are currently undervalued.

Price: 1.68, Change: -0.01, Percent Change: -0.59

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