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AMTD IDEA Group (("AMTD IDEA" or "Company", NYSE:AMTD, SGX: HKB)) announced today that its board of directors have authorized a new share repurchase program under which the Company may repurchase up to US$20 million of its American depositary shares or ordinary shares until the close of business on December 29, 2023, U.S. Eastern Time. The Company plans to adopt and implement this share repurchase program in accordance with applicable rules and requirements under the Securities Exchange Act of 1934, as amended, and the Company's insider trading policies.
The Company's proposed repurchases may be made from time to time in the open market at prevailing market prices, 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. The timing and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and Rule 10b-5 requirements. The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company expects to fund the repurchases out of the Company's existing cash balance.
Posted In: AMTD
