Newport World Resorts parent Alliance Global Group Inc. (AGI) has extended its ongoing share buyback program by one year and increased its total allocation by PHP2 billion ($35.9 million), bringing the total budget for repurchases to PHP11 billion ($197.3 million).
In a disclosure to the Philippine Stock Exchange, AGI announced that its Board of Directors approved the extension and additional funding on June 2nd, 2025. The buyback program, which was previously set to end on December 31st, 2025, will now run until December 31st, 2026.
AGI originally launched the program in October 2021 with the aim of enhancing shareholder value. The initiative authorizes the repurchase of common shares from the open market under terms and conditions approved by the board. As of April 2025, AGI had already spent PHP8.62 billion ($154.7 million) of the PHP9 billion ($161.4 million) previously allocated for share repurchases.
The newly approved PHP2 billion top-up marks the third time AGI has increased its buyback allocation since the program began. Previous increases were approved on December 12th, 2022, and June 13th, 2023. The program was most recently extended on April 4th, 2025, prior to the latest announcement.
AGI stated that the extension and additional funding will provide greater flexibility to pursue buybacks based on prevailing market conditions, further supporting shareholder returns through potential improvements in share price and earnings per share.
Buyback programs are commonly used by publicly listed firms to reduce the number of outstanding shares in the market, often boosting shareholder value and signaling confidence in the company’s long-term prospects.
Alliance Global Group is one of the Philippines’ largest diversified conglomerates, with business interests spanning real estate (Megaworld Corporation), food and beverage (Emperador Inc.), hospitality, quick service restaurants (Golden Arches Development Corporation – McDonald’s Philippines), and leisure and gaming through Travellers International Hotel Group, the operator of Newport World Resorts.
