AMTD Digital issues 'thank you note' to investors as shares trade around 23,650% above IPO price

The US-listed shares of Hong Kong-based investment holding company AMTD IDEA Group
AMTD,
+224.04%

skyrocketed 312.5%, and subsidiary AMTD Digital Inc.
HKD,
+106.03%
,
a Hong Kong-based developer of digital solutions applications jumped 149.6% in very volatile afternoon trading on Tuesday, enough to make them the two best-performing stocks on the New York Stock Exchange. AMTD IDEA shares have been suspended once due to volatility since the open, while AMTD Digital shares have been suspended 18 times. Shares of AMTD Digital are now trading 23,649.5% above theirs $7.80 initial public offering price just for the 13 trading days since it went public. AMTD Digital’s market cap rose to $342.64 billion, making it more valuable than 489 of the S&P 500
SPX,
-0.50%

components. The company issued on Tuesday “Thank you note” to investors and a response to the “significant volatility” of the shares after the IPO. “To our knowledge, there are no material circumstances, events or other matters related to the business and operating activities of our company after the date of the IPO,” AMTD Digital The company said, that it is also “monitoring the market closely for any unusual trading activities or anomalies.”

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