Aeries Technology shares jump 11.87% intraday after shareholders approve share consolidation and announce $5M buyback program.

Aeries Technology surged 11.87% intraday after announcing that shareholders approved share consolidation resolutions at its annual general meeting. The approved resolutions grant the board authority to consolidate Class A ordinary shares at a ratio of up to one-for-ten, providing flexibility to optimize share structure in the future. Although the company emphasized it does not intend to implement a consolidation in the near term, the authorization is seen as a strategic move to potentially enhance shareholder value. The development, alongside a new $5 million share repurchase program, reflects management's focus on strengthening financial performance and operational efficiency, contributing to the intraday rally.