AMTD Digital Shares Jumped 10% As Traders Cheer Two-Year Lockup Period
AMTD Digital shares jumped 10% as traders cheer two-year lockup period.AMTD Digital received further confirmation of the previously announced undertakings from the relevant parties that key shareholders will not sellany of their HKD shares in the open market before the August 2024 expiration.
Those shareholders include AMTD Group, Calvin Choi (together with his holding company Infinity Power Investments), AMTD IDEA Group (NYSE:AMTD) and the executive officers of AMTD Digital (HKD), it said.
Note that selling restrictions tied to its equity listing were initially set to expire Wednesday. Similar to the price action of meme stocks, HKD has experienced unexplainably wild trading, surging over 10,000% just days after its July 15 debut, though most of those gains have since been lost. The stock closed on Tuesday over 70% above the IPO price of $7.80.
AMTD Digital (HKD), a Hong Kong-based financial services firm, initially announced its knowledge of the commitments on August 16, 2022, when AMTD IDEA (AMTD) said it would pour $500M of premium real estate in major cities into AMTD Digital.
$(HKD)$ $(AMTD)$Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Thanks for sharing