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ESOPs Worth $5 Million Will Be Bought Back By Circles Life

According to the corporation, this year’s buy-back value is the highest in Southeast Asia.

Circles Life

Circles Life, a Singapore telecommunications company, is buying back five million dollars in employee stock.  This news comes as the firm plans to go public in the near future. However, Circles Life informed Tech in Asia that the ESOP repurchase is part of the company’s normal operations and has nothing to do with its IPO.

As part of the company’s employee share scheme, full-time employees are given two months’ worth of basic income in stock options each year. Meanwhile, top performers earn an extra six months on top of their yearly allowance.

Employees can cash in on their equities at this liquidity event, which the firm holds every eighteen months. According to the corporation, this year’s buy-back value is the highest in Southeast Asia.

“Some workers might generate up to 6 figures in income from this activity after collaborating with us just a few years,” Rameez Ansar, co-founder of Circles Life, told Tech in Asia. “It’s crucial to continue providing people the chance to realise the advantages of ownership now, not just in five- or ten-years’ time.”

The telecom company stated again that it can expand its business with little money.

“We’re actively examining numerous strategic possibilities given the present market situation, but we didn’t elaborate on particular plans.” We don’t have any imminent investment needs because we’re sufficiently funded to keep expanding and growing the company,” Ansar added.

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