Gorilla Announces Share Buyback of Up To $6 Million as It Deems Shares To Be Undervalued
Gorilla Technology Group Inc. (GRRR)
Company Research
Source: GlobeNewswire
Key Highlights: Share Repurchase Underway: To repurchase 1.1 million shares, closing in the next five business days.Unaudited H1 2024 financials expected by September 30, 2024.Holding Free cash reserves exceed $40 million; Current assets total over $58 million, including restricted capital; Real estate holdings valued at over $25 million LONDON, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Gorilla Technology Group Inc. (“Gorilla” or the “Company”) (NASDAQ: GRRR) is thrilled to announce an ambitious and strategic share buyback program, aimed at addressing what we believe to be a significant undervaluation of our shares. This initiative comes in response to the sharp decline in the Company’s market cap from approximately $650 million to $35 million, in spite of our strong business performance. The share buyback will help realign Gorilla's stock price with our assessment of its intrinsic value and support our long-term strategic objectives. The Board of Directors has authorised the repurchase
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GRRR
Sec Filings
- 10/29/24 - Form 6-K
- 10/1/24 - Form 6-K
- 9/30/24 - Form 6-K
- GRRR's page on the SEC website