News

Golden Ten Data reported on June 19 that India's securities regulator will once again allow companies to conduct open-market share buybacks to boost stock prices. Recently, the Indian stock market has been underperforming compared to its global peers. The Securities and Exchange Board of India had previously planned to phase out open-market buybacks by 2025, citing concerns that this method could lead to unfair treatment of shareholders, trigger tax issues, and mainly benefit a select group of shareholders. Following a board meeting held on Friday, the regulator issued a statement saying that relevant controls have now been implemented to prevent abuse of this mechanism. This move is expected to stimulate more buyback activities, particularly for cash-rich companies; at the same time, during periods of market volatility, it will also provide additional demand support for the stock market.

Glonghui June 19th – The US stock market is closed today (Friday) in observance of Juneteenth.

Golden Ten Data reported on June 19 that Russia has sold a stake in a leading gold mining company that was confiscated from a billionaire last year; despite multiple attempts to sell in the past, the final sale price was only about half of the original expected price. According to a report from Russia’s TASS news agency citing the auction announcement on Friday, Moscow-based BTS-Most Holding won the "Dutch auction" with a bid of 93 billion rubles (approximately $1.3 billion), acquiring a 67.2% stake in Yuzhuralzoloto PJSC and its affiliated companies. A "Dutch auction" is a sales method where the seller gradually lowers the asking price until a buyer agrees to purchase the asset.