Why Are Concorde International Group Shares Soaring 80% After Hours?

Concorde International Group Ltd. (NASDAQ:CIGL) experienced an 80.16% jump during after-hours trading on Wednesday, reaching $4.63.Check out the current price of CIGL stock here.The surge in Concorde in after-hours trading came as the company revealed that its Board of Directors and Compensation Committee had approved a 2025 Equity Incentive Plan earlier that day.New Equity Incentive Plan Drives MovementAccording to Form 6-K documents submitted to the SEC, the plan was approved by the Compensation Committee and Board of Directors on October 1.The plan allows for share-based compensation of up to 20% of the total outstanding Class A and Class B ordinary shares, aimed at employees, directors, and consultants. The regulatory filing was signed by CEO and Chairman Swee Kheng Chua.Plan Structure and TermsThe plan also offers a range of incentives, including incentive share options, non-qualified share options, restricted shares, restricted share units, share appreciation rights, performance share awards, and performance compensation awards, all designed for employees, directors, and consultants.The plan will terminate 10 years after its adoption and is governed by the laws of the British Virgin Islands.Recent Financial PerformanceOn Monday, CIGL reported revenue of $6.0 million for the first half of 2025, marking an 11% increase compared to the same period in 2024. Gross profit also saw a 30% rise, reaching $1.9 million, up from $1.5 million in the first half of 2024.Market ContextThe Singapore-based company has a market capitalization of $58.04 million and an average daily trading volume of 5.44 million shares. Over the past year, the stock has fluctuated between $1.40 and $31.06, and it had declined by 38.95% year-to-date prior to the after-hours surge.Price Action: According to Benzinga Pro, CIGL closed at $2.57 during the regular market session on Wednesday, reflecting an 8.21% loss for the day.Benzinga’s Edge Stock Rankings indicate that CIGL is experiencing short-term upward movement. Know how its momentum lines up with other well-known names. Why This Hedge Fund Manager Thinks Companies Delay Going Public Photo Courtesy: SynthEx on Shutterstock.comDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.