Chong Sing Holdings FinTech Group Limited (SEHK:8207) commences share repurchases on January 8, 2019, under the program mandated by the shareholders in the Annual General Meeting held on May 8, 2018. As per the mandate, the company is authorized to repurchase up to 2,253,418,250 shares, representing 10% of its issued share capital. The program will be funded by internal funds legally permitted to be utilized to repurchase the shares. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 8, 2018, the company had 22,534,182,505 shares in issue.