A buyback doesn’t necessarily float the share price.
There are a range of reasons to do a buyback, sine being
- the funds are excess
- share price is under valued (whatever that really means)
- to show investors management won’t blow out their brains on growth projects / M&A
It could be a mix of all 3.
A standard buyback arguable makes 1/10th of 1% of stuff all difference to the share price, WHCs may be a bit more meaningful as they will eventually be buying back 35% of the company.
It is quite possible WHC will end up paying more than the trading range when the buy back is done. If so I am completely fine with that, tighter control over a scarce high quality coal asset is fine with me.
Going a step further I’d be fine if they put debt back into the capital structure once the growth projects were executed. Again, better to have concentrated ownership.
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Last
$7.77 |
Change
-0.035(0.45%) |
Mkt cap ! $6.504B |
Open | High | Low | Value | Volume |
$7.70 | $7.84 | $7.69 | $18.29M | 2.354M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 22718 | $7.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.77 | 7711 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
24 | 15027 | 7.760 |
34 | 32590 | 7.750 |
20 | 31041 | 7.740 |
14 | 31288 | 7.730 |
14 | 44187 | 7.720 |
Price($) | Vol. | No. |
---|---|---|
7.770 | 27242 | 39 |
7.780 | 38397 | 27 |
7.790 | 37243 | 22 |
7.800 | 27288 | 18 |
7.810 | 100251 | 14 |
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