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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$7.16 |
Change
0.020(0.28%) |
Mkt cap ! $5.990B |
Open | High | Low | Value | Volume |
$7.10 | $7.16 | $6.84 | $72.74M | 10.29M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3922 | $7.12 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.16 | 2173 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50 | 7.100 |
2 | 6000 | 7.070 |
3 | 8726 | 7.000 |
1 | 7960 | 6.980 |
2 | 4000 | 6.950 |
Price($) | Vol. | No. |
---|---|---|
7.170 | 650 | 1 |
7.180 | 200 | 1 |
7.190 | 3002 | 1 |
7.200 | 1559 | 2 |
7.240 | 2000 | 1 |
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