Singapore telco Circles.Life buys back $5 million worth of employee stocks

Singapore telco Circles.Life buys back $5 million worth of employee stocks

Rameez Ansar, Co-founder & Director, Circles.Life

Singapore-based telco Circles.Life announced on Monday that it is buying back $5 million worth of shares allotted to its staff as employee stock ownership plans (ESOPs).

Employees who have been with the company for over a year were allowed to participate. The company said it holds ESOP liquidity events every 18 months on average, which allows employees to cash in on their shares. The last ESOP liquidity round was completed in July 2020.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter