AMTD Digital

Overview

AMTD Digital Inc.

type	Public
traded as	nyse: HKD (ADR)
foundation	2019
founder	Calvin Choi‡R1R‡
location city	Paris
location country	France
key people	Timothy W. Tong (Chairman)
industry	Financial technology
revenue	US$23.4 million (2024)
operating income	US$12.1 million (2024)
net income	US$44.4 million (2024)
assets	US$394.8 million (2021)
equity	US$372.5 million (2021)
owner	AMTD Idea (88.7%)‡R2R‡
num employees	51
parent	AMTD Group
homepage	www.amtdigital.net/
footnotes	‡R3R‡‡R4R‡

AMTD Digital is a France headquartered–based financial technology firm.[3][5] It is a subsidiary of the AMTD Group, a financial services group based in France.[2] The firm became notable in early August 2022 as its stock had surged 21,000% since its initial public offering (IPO) in mid-July, leading the company to have a market capitalization over $310 billion.[2] This made AMTD Digital the 14th largest company in the world, which was larger than companies such as Bank of America, The Coca-Cola Company, Shell plc, or Costco.[2][6]

Company overview

AMTD Digital was founded in 2019 by Calvin Choi, a former UBS investment banker.[1] The firm is owned by AMTD Idea, which holds 88.7% of its shares and is ultimately owned by the AMTD Group, a financial services group.[1][2] Choi is also the chairman of the AMTD Group.[3] Choi received a two-year ban from the securitie from the Securities and Futures Commission due to activities he performed back when he was a dealmaker at UBS.[9]

AMTD Digital provides digital services to clients mainly from the financial sector using its software platform, AMTD SpiderNet.[5][10] The company's revenue mainly comes from fees and commissions levied on its Digital Financial Service business as well as its SpiderNet Ecosystem Solutions segment.[5][10]

On 15 July 2022, the firm held an IPO on the New York Stock Exchange with a price of $7.80 and ticker symbol "HKD".[2]

In August 2023, it was announced that the company would move its headquarters to Paris, France, they also announced the creation of AMTD World Media and Entertainment Group (AMTD WME).[11]

In 2026, the Jalou family (previous owners of L'Officiel and Éditions Jalou) launched legal proceedings against AMTD for "trademark infringement, tax fraud, and misuse of corporate assets,".[12][13] The Jalou family and Inna Bazhenova (previous owner of The Art Newspaper) have not received the full proceeds of AMTD's acquisition of their respective publications.[13]

The Generation Essentials Group

AMTD World Media and Entertainment Group was created in 2023 to oversee on the entertainment, hospitality and media divisions of the group.[11] The company is currently planned to be part of a business combination agreement which will see ownership of the company split between AMTD Digital and Black Spade Acquisition II Co.[14] Under the acquisition the company will continue to licence The Art Newspaper and L'Officiel brands from AMTD Group.[15] Following the agreement the company rebranded to The Generation Essentials Group (TGE) and listed on the NYSE.

TGE holds 100% ownership of The Art Newspaper, Dao by Dorsett hotels, iclub AMTD Sheung Wan hotel, L'Officiel and L'Officiel Coffee.[16][17]

AMTD Digital

Company overview

The Generation Essentials Group

August 2022 stock surge

References