Have any of you read the balance sheet? They are sitting on cash. The reality is they have said, you know what, we believe our share price is actually undervalued and it's worth investing in.
Takes shares out of the market and whilst dividends will no doubt be lower, the pie gets smaller.
There is nobody here who could say this is a good or bad investment. Is it a risky one? Definitely. You're basically betting on them turning the business around.
Happy to have some money here betting on that turnaround. After all, we're entering a phase where the easy gains have dried up, you might argue that's where they performed their best...
Ann: On-Market Share Buy-Back, page-97
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Last
$8.50 |
Change
0.020(0.24%) |
Mkt cap ! $1.536B | |||
| Open | High | Low | Value | Volume |
| $8.45 | $8.52 | $8.41 | $3.903M | 460.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2669 | $8.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.50 | 2799 | 3 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| MFG (ASX) Chart |