Genius Group Limited (NYSE: GNS) announced a share buyback program and bought back one million shares of its stock at an average price of $1.30 per share.
Shareholders approved a buyback mandate allowing the company to repurchase up to 20% of its issued ordinary shares over the next 12 months or until the next AGM.
The Board authorized the CEO to execute the buyback, resulting in the repurchase of one million shares at $1.30 per share.
As a result of the buyback news, GNS shares surged by 15% to $1.61 on Thursday.