The pioneer in trading platforms for digital assets, INX, is pleased to announce that it has reaffirmed its commitment to enhancing shareholder value through a reinvigorated normal course issuer bid (NCIB) campaign.
In addition, INX Limited, INX’s main subsidiary, declares its intention to continue its INX Token repurchase program. This tactical choice reflects INX’s unwavering commitment to enhancing the investing experience for its esteemed stakeholders.
A Glimpse into INX’s Vision
The Neo Exchange Inc., also known as Cboe Canada, has given INX permission to possibly repurchase up to a staggering 12,713,823 Common Shares in accordance with the updated NCIB. As of July 28th, 2023, this remarkable sum represents about 10% of the Common Shares that are publicly traded by the Company.
![INX Digital Announces NCIB and Token Repurchase Program to Support Growth image 74](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/08/image-74.png?resize=695%2C363&ssl=1)
![INX Digital Announces NCIB and Token Repurchase Program to Support Growth image 74](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/08/image-74.png?resize=695%2C363&ssl=1)
This undertaking is subject to the sensible proviso that the aggregate purchase price for Common Shares and INX Tokens obtained under their respective repurchase programs should not exceed USD 5 million. This thorough method emphasizes INX’s dedication to responsible and sustainable growth.
Related: DSDC and INX Partner to Launch Regulated Digital ADRs
Forge Ahead with INX
In order to fuel this strategic endeavor, INX plans to carry out acquisitions using a variety of techniques, including open market transactions. Future development is expected to be significantly influenced by the revived token repurchase program, which INX Limited is facilitating. INX is well-positioned to achieve a healthy balance between value enhancement and strategic caution thanks to its sharp focus on adherence to regulatory mandates and market trends.
As this period of transformation comes to an end, INX places its confidence in PI Financial Corp., the broker chosen to carry out acquisitions made pursuant to the updated NCIB. INX is prepared to make a noticeable difference in the financial environment, guided by the principles of the NEO Exchange.
On August 11th, 2023, this captivating voyage is about to begin, ushering in a thrilling period of value exploration. The culmination is scheduled for the earliest of three milestones, which are August 10, 2024, attaining the total number of Common Shares that can be repurchased under the NCIB, or hitting the USD 5 million peak for Common Shares and INX Tokens acquired together.
The financial world will never be the same as a result of INX’s revitalized energy and clever business tactics, which usher in a period of rapid growth and value appreciation.
Related: INX and Casper Labs Partner to Tokenize Equity
Website: https://www.inx.co/