ppl do realise that they are under absolutely no obligation to buy-back a single share right?
They will not be buying back 10% in the 1st day or even 1st month of trading. I will make a bet that they won't buy back 10% within the 12 months.
And it certainly won't be at anywhere near the "stated" nta. Which won't be above $2.
Ann: On-market share buy-back, page-25
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