Besides, 10% buyback at this price will be highly accretive. They can essentially borrow at a marginal rate of 8% interest to buy shares that yields 12.5%!!!
They can buy up to 1.40 ps and still be accretive to their balance sheet.
Depends on how aggresive they want to be, however if they can push it up to 1.15 NTA value before announcing more mergers.
