Alliance Global launches share buyback | ABS-CBN

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Alliance Global launches share buyback

Alliance Global launches share buyback

ABS-CBN News

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MANILA - Alliance Global Group Inc. (AGI) said Tuesday it has approved a share repurchase program of up to P5 billion over two years to shore up the value of its shares.

The investment holding company of tycoon Andrew Tan said it took this step because its shares today are undervalued.

"Our Group has been consistently profitable, with attractive growth prospects, and enjoys strong brand equity and therefore views this exercise as a means to enhance shareholder value over time," said AGI president Kingson Sian.

AGI has a capex budget of about P80 billion this year.

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