The buyback equals half of the 13.2 million shares authorized by the company’s board for repurchase.
Genius Group (GNS) has acquired 6.6 million class A ordinary shares in a privately negotiated off-market transaction. The purchase was made from a non-affiliated private holder and accounts for 50% of the 13.2 million shares approved for buyback by the company’s board.
The board previously authorized the repurchase program, allowing the company to buy back up to 13.2 million shares. This move follows standard corporate actions aimed at returning value to shareholders or managing capital structure.
No immediate market reaction was disclosed following the announcement.