Summary by Moomoo AI
GCL Technology Holdings Limited (GCL Technology) announced on March 26, 2024 that under the repurchase authorization, the company has further repurchased approximately 1811.2 million shares for a total cost of approximately HK$2,400 million. FROM THE ANNUAL GENERAL MEETING TO THE DATE OF THE ANNOUNCEMENT, THE CUMULATIVE SHARE REPURCHASE AMOUNTED TO 15661.2 MILLION SHARES, REPRESENTING APPROXIMATELY 0.58% OF THE TOTAL NUMBER OF SHARES ISSUED. The Company is authorized to repurchase up to 10% of the issued shares on the Hong Kong Stock Exchange market, i.e. 2707687297 shares. The Board of Directors stated that, taking into account the company's performance, asset value and business prospects, it considers that the market price of the shares is undervalued and considers that now is the right time to buy back...Show More