Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

FUTU HOLDINGS LIMITED

(FUTU)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Futu Announces US$300 Million Share Repurchase Program - Form 6-K

11/03/2021 | 07:55am EST

Futu Announces US$300 Million Share Repurchase Program

HONG KONG, Nov. 3, 2021 (GLOBE NEWSWIRE) - Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU), a tech-driven online brokerage and wealth management platform focusing on global investors, today announced that its board of directors has approved a share repurchase program to repurchase up to US$300 million worth of its own American depositary shares ("ADSs"), representing its Class A ordinary shares, until December 31, 2022.

Under the share repurchase program, Futu may purchase its ADSs through various means, including open market transactions, privately negotiated transactions, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with Futu's working capital requirements, general business conditions and other factors. Futu's board of directors will review the share repurchase program periodically, and may modify, suspend or terminate the share repurchase program at any time. The Company plans to fund repurchases from its existing cash balance.

About Futu Holdings Limited

Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform. The Company primarily serves the emerging affluent population, pursuing a massive opportunity to facilitate a once-in-a-generation shift in the wealth management industry and build a digital gateway into broader financial services. The Company provides investing services through its proprietary digital platform, Futubull and moomoo, each a highly integrated application accessible through any mobile device, tablet or desktop. The Company's primary fee-generating services include trade execution and margin financing which allow its clients to trade securities, such as stocks, warrants, options, futures and exchange-traded funds, or ETFs, across different markets. Futu has also embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Futu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu's goal and strategies; Futu's expansion plans; Futu's future business development, financial condition and results of operations; Futu's expectations regarding demand for, and market acceptance of, its credit products; Futu's expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborate with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor inquiries, please contact:

Investor Relations

Futu Holdings Limited

ir@futuholdings.com

Disclaimer

Futu Holdings Ltd. published this content on 03 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2021 12:54:03 UTC.


ę Publicnow 2021
All news about FUTU HOLDINGS LIMITED
01/24HONG KONG'S FIRST VIRTUAL INVESTMENT : From SPAC To Metaverse held Jan 20
AQ
01/16SoftBank-Backed AInnovation Launches Up to Nearly $157 Million Hong Kong IPO
MT
2021Futu Acquires Australian Financial Services License
MT
2021Futu Holdings Limited acquired Futu Securities Ltd.
CI
2021Futu Acquired Australian Subsidiary That Holds Australian Financial Services License
GL
2021Futu Acquired Australian Subsidiary That Holds Australian Financial Services License
GL
2021EXCLUSIVE-NEXT IN CHINA REGULATORY C : online brokers - sources
RE
2021Today on Wall Street: Backlash
2021Financial Stocks Slip Ahead of Friday Opener
MT
2021Financial
MT
More news
Analyst Recommendations on FUTU HOLDINGS LIMITED
More recommendations
Financials
Sales 2021 6 721 M 863 M 863 M
Net income 2021 2 906 M 373 M 373 M
Net cash 2021 51 397 M 6 602 M 6 602 M
P/E ratio 2021 17,4x
Yield 2021 -
Capitalization 49 393 M 6 344 M 6 345 M
EV / Sales 2021 -0,30x
EV / Sales 2022 -1,66x
Nbr of Employees 1 315
Free-Float -
Chart FUTU HOLDINGS LIMITED
Duration : Period :
Futu Holdings Limited Technical Analysis Chart | FUTU | US36118L1061 | MarketScreener
Technical analysis trends FUTU HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 336,76 HKD
Average target price 684,05 HKD
Spread / Average Target 103%
EPS Revisions
Managers and Directors
Leaf Hua Li Chairman & Chief Executive Officer
Arthur Yu Chen Chief Financial Officer
Ching-Yee Joey Head-Compliance
Vic Haixiang Li Independent Director
Pui Man Tam Independent Director
Sector and Competitors
1st jan.Capi. (M$)
FUTU HOLDINGS LIMITED-0.12%6 344
INTUIT INC.-16.87%151 404
FIDELITY NATIONAL INFORMATION SERVICES, INC.2.42%68 073
ADYEN N.V.-27.40%58 776
WORLDLINE-14.30%13 328
HITHINK ROYALFLUSH INFORMATION NETWORK CO., LTD.-13.26%11 016