Shares of Roma Green Finance (NASDAQ:ROMA) soared about 35% after the company unveiled plans for a $100 million share repurchase program.
The ESG and sustainability advisory firm said its board of directors approved the buyback initiative, which will run through December 31, 2028. Roma Green Finance currently has a market capitalization of roughly $375 million.
Under the program, the company may repurchase up to $100 million worth of its Class A Ordinary Shares. Purchases could be carried out through open market transactions at prevailing prices, privately negotiated deals, block trades, or other legally permitted methods. The company said any repurchases will be executed at its discretion depending on market conditions and in line with applicable regulations.
The authorization does not require Roma Green Finance to buy back a specific number of shares. The timing, structure, quantity and overall value of repurchases will depend on factors such as market conditions, the company’s share price, trading activity, and broader liquidity and capital allocation considerations.
Roma Green Finance said it intends to fund the program using existing cash reserves, subject to available liquidity and cash flow. All share repurchases will comply with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, as well as other relevant regulatory requirements.
The company added that its board will periodically review the program and retains the right to modify its size or terms, or to pause or terminate the buyback at any time without prior notice.