Close  

Andrew Tan group launching new P2.5B stock buyback program

/ 02:15 PM September 18, 2019

The Andrew Tan-led conglomerate Alliance Global Group Inc. (AGI) is launching a new stock buyback program with a budget of P2.5 billion in the next 12 months, seeking to perk up the company’s market valuation.

The new program comes after AGI’s completion of an earlier share repurchase program, worth P5 billion, which began on September 20, 2017 and lasted for two years.

ADVERTISEMENT

“We believe in our stock’s underlying value, which is backed by our strong franchises across all our business segments, years of profitable operations and continued expansion,” said Kevin Tan, AGI chief executive officer, in a press statement.

The buyback program, he added, “should also improve our share values moving forward.”/TSB

FEATURED STORIES

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: AGI, buyback, Market, repurchase, shares, Stock, valuation
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.