GMO Financial Holdings, Inc. announces an Equity Buyback for 2,500,000 shares, representing 2.08% for ¥1,750 million.
February 04, 2019 at 12:01 pm IST
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GMO Financial Holdings, Inc. (JASDAQ:7177) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares, representing 2.08% of its share capital, for ¥1,750 million. The company will repurchase its shares in order to improve capital efficiency and enforce shareholder returns. The share repurchase program will run until April 26, 2019. As of December 31, 2018, the company had 119,928,635 shares outstanding (excluding treasury shares) and 0 shares in treasury.
GMO Financial Holdings Inc is a Japan-based company mainly engaged in the securities and foreign exchange margin trading (FX) and cryptocurrency businesses. The Company operates through two business segments. The securities and FX segment is engaged in the provision of financial product trading services such as Internet securities trading and FX trading. The Virtual Currency segment is engaged in the provision of virtual currency related transaction services such as buying and selling of virtual currency and margin trading. The Company is also engaged in the system related business.