I agree. The logic of on market share buy backs escapes me. They are generally announced after good results which usually leads to a share price increase so the company ends up paying an inflated price to buy back their own stock. It is even worse when subsequently the company raises capital at a discount to market shortly thereafter, eg, ANZ.
If they are worried about the number of shares on issue, do a capital return and share consolidation, that way all shareholders benefit equally and get cash in their pockets as well.
I agree. The logic of on market share buy backs escapes me. They...
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Last
$7.69 |
Change
0.050(0.65%) |
Mkt cap ! $24.97B | |||
| Open | High | Low | Value | Volume |
| $7.75 | $7.80 | $7.69 | $52.76M | 6.826M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 32086 | $7.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.70 | 27000 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |