On January 29, Alfa Group International announced its intention to launch a share repurchase programme, transferring £20 million from cash reserves, which will be 0 per share..Buy back shares at 2 pence。

Alpha Group launches share buyback

The official announcement said: "The repurchase plan will take effect from the date of this announcement and will expire on or before the date of the company's next annual general meeting, provided that the total consideration reaches a ceiling of £20 million.。"The company has allegedly commissioned Liberum Capital Limited to handle the share repurchase proceedings on its behalf.。

The company further emphasized that the repurchase program will be implemented within certain pre-set parameters.。This would include "the maximum price paid per common share should be 105% of the 5-day tracking average mid-market closing price, or equivalent to the higher of the last independent trading price of common stock and the current highest independent bid price for common stock."。

London-listed Apha Group has a market capitalization of around 6.£411.6 billion。The company noted that the repurchased shares could represent around 25% of the average daily trading volume and therefore would not enjoy any exemption.。

Expand Business

Alpha Group provides foreign exchange risk management and alternative banking solutions to international companies and institutions.。The company's performance has been excellent, with solid revenue growth for several consecutive quarters.。In 2021, the company launched an alternative banking platform, expanding its reach。

Last year, the company also launched a new fund financing unit and opened two corporate foreign exchange relations management offices in Madrid and Munich.。In addition, the group acquired Cobase last year, its first acquisition.。

The decision to buy back shares is made when the company reports revenue of 1..The week after £100m (up 12%), pre-tax profit also rose 140% to about 1.1.5 billion pounds。