“The share repurchase program demonstrates our firm confidence in DigiPlus’ long-term growth and solid fundamentals,” said chairman Eusebio Tanco.
“By strategically deploying our capital through this buyback, we are sending a clear signal that DigiPlus is committed to delivering sustainable returns for shareholders while remaining well-positioned to pursue expansion and innovation,” he added.
The move comes as the firm’s stock price has plunged over 50 percent from its recent high amid fears over increased regulation and a potential ban.
Share buybacks reduce the number of outstanding shares, which can boost earnings per share and help support the stock price. The 12-month program will be funded through internally generated cash flow.
—Edited by Miguel R. Camus
