(RTTNews) - TON Strategy Company (TONX), a company focused on the accumulation of Toncoin for long-term investment, said on Wednesday that its Board has approved a program to repurchase up to $250 million of its shares.
The company noted that this share repurchase aims to create shareholder value by growing Net Asset Value per share (NAV/share), including in times of heightened volatility.
Manuel Stotz, Executive Chairman of TON Strategy, said: "Subject to market conditions, among other factors, if the stock trades at a premium to NAV, the company may consider issuing stock to buy $TON. Conversely, the company may consider repurchasing its own stock if it trades at a discount to NAV."
Formerly Verb Technology Company, TON Strategy Company began trading as TONX at the Nasdaq on September 2, following its renaming.
TONX was up by 4.37% at $12.90 in the pre-market trade on the Nasdaq.
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