AMTD IDEA Extends Share Repurchase Program till end of 1st Quarter in 2024

Rhea-AI Summary

AMTD IDEA Group extends share repurchase program until end of Q1 2024.

Positive

• AMTD IDEA Group has extended its share repurchase program until the end of the first quarter in 2024. This indicates the company's confidence in its financial position and willingness to invest in its own stock. Share repurchases can potentially boost stock prices and indicate positive market sentiment.

Negative

• None.

PARIS & NEW YORK & SINGAPORE--(BUSINESS WIRE)-- AMTD IDEA Group (“AMTD IDEA” or “Company”, NYSE: AMTD; SGX: HKB) announced today that the Company’s board of directors have authorized an extension of the existing share repurchase authority under the share repurchase program previously announced on August 22, 2023 and updated on September 22, 2023, until the end of the last business day of the first quarter in 2024, U.S. Eastern Time.

About AMTD IDEA Group

AMTD IDEA Group, formerly known as AMTD International Inc. (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global capital markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles as well as hospitality and VIP services. Through our unique eco-system - the "AMTD SpiderNet" - AMTD IDEA Group is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on Twitter at @AMTDGroup.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group with the SEC. All information provided in this press release is as of the date of this press release, and AMTD IDEA Group does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024741393/en/

IR Office

AMTD IDEA Group

ir@amtdinc.com

Source: AMTD IDEA Group

FAQ

What is AMTD IDEA Group's share repurchase program?

AMTD IDEA Group's share repurchase program allows the company to buy back its own shares from the market. This can be done to boost stock prices and indicate positive market sentiment.

Why did AMTD IDEA Group extend its share repurchase program?

AMTD IDEA Group extended its share repurchase program to the end of the first quarter in 2024 to continue investing in its own stock and demonstrate confidence in its financial position.

How can share repurchases affect stock prices?

Share repurchases can potentially boost stock prices by reducing the number of shares available in the market. This can increase earnings per share and indicate positive market sentiment.