Publicly-Listed AMTD Group Wants Investors’ Crypto in Equity Swap Program
On Tuesday, three affiliated NYSE-listed companies under AMTD Group proposed a crypto-for-stock conversion program that would let holders swap Bitcoin, Ethereum, USDT, Binance’s BNB, and USDC for newly issued shares under the exchange.
AMTD IDEA (AMTD), AMTD Digital (HKD), and The Generation Essentials Group (TGE) formed the program with pricing that would be set by mutual agreement at prevailing market values, and allocations could be split across the three issuers.
Framing the plan as a “conduit and effective means” for portfolio diversification, the group said the issuances would “serve as a bridge connecting the world of crypto assets with one of the world’s leading stock exchanges.”
To flesh out what it…
