The Generation Essentials Group (TGE), a joint venture of AMTD Group, AMTD IDEA Group and AMTD Digital Inc., has applied to the UK Financial Conduct Authority and the London Stock Exchange for a secondary listing of its entire Class A ordinary share capital. The application covers 44,175,159 Class A shares, which will trade under the ticker “TGE” on both the NYSE and the LSE after the prospectus receives FCA approval.
TGE was listed on the NYSE in June 2025 through a SPAC merger with Black Spade Acquisition II Co. The company’s portfolio spans media, entertainment and hospitality, with key subsidiaries L’OFFICIEL and The Art Newspaper. Recent strategic moves include expanding its hospitality and food‑and‑beverage businesses, pursuing hotel acquisitions and opening L’OFFICIEL COFFEE shops worldwide.
The dual listing is intended to broaden shareholder liquidity and elevate TGE’s profile in Europe. By accessing the LSE’s investor base, the company can tap new capital pools, increase trading liquidity and extend trading hours, all of which support its growth initiatives across its diversified segments.
Financially, TGE posted an 81.03% increase in revenue and a 239.92% rise in earnings in 2024 versus 2023, driven by strong demand in its media and hospitality units. In contrast, AMTD IDEA Group’s revenue fell 45.38% and earnings dropped 63.2% in 2024, largely due to divestments and the sale of non‑core assets, although its core media and hospitality segments still showed growth.
The application aligns with AMTD IDEA Group’s broader strategy to diversify its portfolio and strengthen its presence in key global markets. Listing on the LSE will give TGE access to European investors, potentially enhancing capital access and market visibility for its media and entertainment assets.
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