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
-0.030(0.38%) |
Mkt cap ! $6.500B |
Open | High | Low | Value | Volume |
$7.70 | $7.84 | $7.69 | $37.59M | 4.840M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 5512 | $7.74 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.78 | 2928 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 5512 | 7.740 |
1 | 5000 | 7.730 |
3 | 24089 | 7.720 |
8 | 71183 | 7.710 |
9 | 38237 | 7.700 |
Price($) | Vol. | No. |
---|---|---|
7.780 | 2928 | 2 |
7.790 | 21089 | 2 |
7.800 | 20429 | 3 |
7.810 | 23089 | 2 |
7.820 | 6000 | 3 |
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