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AMTD Digital Inc. (("AMTD Digital", NYSE:HKD) AMTD IDEA Group (("AMTD IDEA", NYSE:AMTD, SGX: HKB)) jointly announced today that the boards of directors of the two companies have approved the issuance and sale of Class B ordinary shares by AMTD Digital to AMTD IDEA for a total consideration of not more than US$100 million (US$520 per share). As a further demonstration of AMTD IDEA's long-term commitment in the development of AMTD Digital, AMTD IDEA voluntarily commits to a 5-years lock up period on such shares acquired through this subscription.
Dr. Timothy Tong, chairman of the board of directors of AMTD Digital, commented: "The share subscription by AMTD IDEA demonstrates our parent company's strong confidence in our long-term and sustainable development. The management is motivated to pursue greater success through continuous innovation in the digital world."
Dr. Feridun Hamdullahpur, chairman of the board of directors of AMTD IDEA, commented: "We are fully confident in and committed to our long-term strategic core holding in AMTD Digital, seeing enormous potentials in its media, culture and entertainment businesses as well as its diversified shareholding base with global connectivity leveraging on the NYSE platform."
