Company type | Public |
---|---|
NYSE: HKD ( ADR) | |
Industry | Financial technology |
Founded | 2019 |
Founder | Calvin Choi [1] |
Headquarters | , France |
Key people |
|
Revenue | US$25.2 million (2021) |
US$16.1 million (2021) | |
US$22.9 million (2021) | |
Total assets | US$394.8 million (2021) |
Total equity | US$372.5 million (2021) |
Owner | AMTD Idea (88.7%) [2] |
Number of employees | 51 |
Parent | AMTD Group |
Website |
www |
Footnotes / references [3] [4] |
AMTD Digital is a France headquartered–based financial technology firm. [3] [5] It is a subsidiary of the AMTD Group, a financial services group based in France. [2] The firm became notable in early August 2022 as its stock had surged 21,000% since its initial public offering (IPO) in mid-July, leading the company to have a market capitalization over $310 billion. [2] [6] [7] [8] This made AMTD Digital the 14th largest company in the world, which was larger than companies such as Bank of America, The Coca-Cola Company, Shell plc or Costco. [2] [6] [7] [8]
AMTD Digital was founded in 2019 by Calvin Choi, a former UBS investment banker. [1] The firm is owned by AMTD Idea which holds 88.7% of its shares and is ultimately owned by the AMTD Group, a financial services group. [1] [2] Choi is also the chairman of the AMTD Group. [3] Currently, Choi is appealing a decision from the Securities and Futures Commission regarding a two-year ban from the securities industry due to activities he performed back when he was a dealmaker at UBS. [9]
AMTD Digital provides digital services to clients mainly from the financial sector using its software platform, AMTD SpiderNet. [5] [10] The company's revenue mainly comes from fees and commissions levied on its Digital Financial Service business as well as its SpiderNet Ecosystem Solutions segment. [5] [10]
On 15 July 2022, the firm held an IPO on the New York Stock Exchange with a price of $7.80 and ticker symbol "HKD". [2]
In August 2023, it was announced that the company would move its headquarters to Paris, France they also announced the creation of AMTD World Media and Entertainment Group (AMTD WME). [11]
The price of AMTD Digital for its listing on 15 July was $7.80 per share and by 2 August, the price had peaked at $1,679, which was an increase of 21,000% since listing. [6] The causes of the stock surge remains unknown. [2] One suggestion was that its ticker symbol of HKD on the NY exchange led traders to confuse it with the Hong Kong dollar. [12] It was reported that r/wallstreetbets, a subreddit of the website Reddit, were involved, although this was denied by the users themselves. [2] [8] The phenomenon has drawn comparisons to the GameStop short squeeze and the AMC Theatres stock surge. [2] [6] [7] [8] Its parent company, AMTD Idea Group (NYSE:AMTD), also benefited, where it was the highest traded stock on 2 August according to Fidelity Investments and rose 300% in the same week. [6] [8]
Since 2 August, the stock price of the firm has dropped significantly from its peak. [13] The losses were greater than the entire market value of companies such as Intel or Goldman Sachs. [14] As of the end of the trading day on 16 August, the stock was valued at $181.02 per share.
Li Ka-shing's CK Hutchison Holdings, which owned shares in the firm's ultimate parent, AMTD Group, made a statement to distance itself from AMTD Digital, stating it held no shares in the firm. [15]
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Phabricator and on
MediaWiki.org. |