I can’t remember the timeline - but if I’m recalling correctly didn’t IFT do their CR placement (at $4.38?) after the abandoned buyback?
So if they were to start buying back again now I guess they would be throwing ballpark $7.00 potentially at shares they sold for $4.38 not long ago, and yes this would reduce liquidity but probably no real impact when considering the placement shares. With rates so low I don’t know if reducing debt is high on the priority list, but I guess it’s still something worthwhile and prudent.
IFT Price at posting:
$7.03 Sentiment: None Disclosure: Held
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