DOHA, Qatar, Sept. 11, 2024 /PRNewswire/ -- The Board of Directors of QNB Group decided at its meeting held on 11 September 2024 to approve a buyback of QNB's shares (Doha: QNBK) up to a value of QAR2.9 billion on the Qatar Stock Exchange, as part of the evolution of QNB Group's disciplined capital distribution and allocation policy. The Share Buyback will be executed after obtaining regulatory approvals from the Qatar Central Bank (QCB) and Qatar Financial Markets Authority (QFMA).
The decision to initiate a repurchase of QNB's own shares arose after careful consideration of several factors including current and future shareholders expectations, strength of QNB Group's financial position, growth strategy, strong return on equity, high quality and superior earnings, financial ratios associated with equity and liquidity, and continued confidence of the investor community.
QNB's share buyback is a confidence building measure, which is expected to raise investors' trust in QNB's robust capital allocation process, improve market liquidity and enhance returns.
QNB Group intends to fund its share buyback from its retained earnings and surplus liquid funds available with QNB. Despite share repurchases, QNB Group will continue to hold robust capital buffers, well above regulatory minimums of QCB and Basel III requirements, and does not anticipate any material impact on its capital and other ratios.
The Share Buyback will be conducted using an Open-Market Repurchase (OMR) mechanism as per applicable QFMA rules and regulations.
Further information on the buyback process including regulatory approvals and the buyback mechanism will be disclosed in due course.
Group statistics
QNB Group's presence spans more than 28 countries across three continents operating from approximately 900 locations, 5,000 ATMs supported by 30,000 staff.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
QNB Share Buyback
Global Hit Streaming Series Reaches Top Spot on Netflix and Earns International Acclaim
LOS ANGELES, Sept. 18, 2024 /PRNewswire/ -- The groundbreaking Netflix series "3 Body Problem," produced in collaboration with The Three-Body Universe, has garnered six nominations at the 76th Primetime Emmy Awards, including the prestigious Outstanding Drama Series prize. This recognition highlights the series' extraordinary production and global success.
According to official Netflix data, "3 Body Problem" topped Netflix's viewership charts, amassing over 46.6 million views within seven weeks of its release in March. With its broad appeal, the series drew a substantial international audience and ranked in the top ten across 93 countries and territories.
"The Three-Body Problem" trilogy stands as the leading Chinese novel series on the global stage. Translated into 35 languages, the trilogy has surpassed 30 million copies in sales and received over ten major international literary awards. The English version alone has sold more than 2.56 million copies, with a renewal fee of $1.25 million, setting a new benchmark for the export of Chinese literary rights overseas.
The Three-Body Universe (TBU), the exclusive global rightsholder for content development and commercial operations of "The Three-Body Problem" trilogy, continues to lead the IP industry with its innovative and captivating storytelling. The company's diverse portfolio spans film and television, pan-entertainment, interactive, and immersive experiences, with plans to release one to two major projects every year.
In addition to "3 Body Problem," TBU is also widely recognized for producing the hit Mandarin-language TV series "Three-Body." Beloved by Chinese audiences, the show has been broadcast on over 11 international television networks and streaming platforms, with Peacock distributing it in the U.S. The series has reached viewers across Asia, the Americas, Europe, and Oceania. "Three-Body" is also available on Tencent Video's international platform, WeTV, further extending its reach to ASEAN countries, as well as Arabic-, Spanish-, and Portuguese-speaking regions.
"The Three-Body Problem" IP has also expanded into a diverse range of cultural products. Its graphic novels have been commissioned for publication in 11 languages. Other successful adaptations include animated series, variety shows, VR/AR experiences, and immersive live events.
At the 2024 Shanghai International Film Festival, The Three-Body Universe CEO, Jilong (Cedric) Zhao spoke about the highly anticipated film adaptation of "The Three-Body Problem," set to be directed by Zhang Yimou. "We will bring together China's top creative talents and production expertise, working with industry-leading partners around the world to bring this film to the international stage." A veteran of IP development and operations, Zhao also shared his vision for the IP market. "2024 has seen the sensational debut of "3 Body Problem," marking the first year for the internationalization of the Three-Body franchise. The series achieved groundbreaking success in North American, Japanese, and Middle Eastern markets, which also drove a surge in book sales and Three-Body-themed merchandise. This triumph demonstrates the vast potential and promising future for the Three-Body IP and other Chinese intellectual properties on the global landscape."
Building on its current success, The Three-Body Universe is gearing up to develop its first animated feature film and video game for the global market. Through collaborating with world-class talents and business partners, The Three-Body Universe seeks to create groundbreaking, premium content that resonates with both domestic and international audiences, further expanding the reach and impact of the Three-Body IP worldwide.
For more information, please contact:
Emma NG, PR Dept., TBU
emma.ng@3body.com
WhatsApp: +86 15611739029
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
"3 Body Problem" Nominated for Outstanding Drama Series at the 76th Primetime Emmy Awards
