Share price rising is great for traders who wish to sell in the short term, however if they are spending $30m on buybacks i'd prefer it to be done when the price is $1 & not $1.50 as this gives me greater ownership of the business without me putting in more capital.
Example;
$30m / $1/share = 30m shares bought back or 15% of the company
$30m / $1.5/share = 20m shares bought back or 10% of the company
Therefore I can own 5% more of the business if they purchase at a lower price.
I'm not whinging I was just confused with the timing of the buybacks & now hopefully you can see why.
Ann: NZME share buyback to commence on 4 April 2022, page-7
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Last
89.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $166.1M | |||
| Open | High | Low | Value | Volume |
| 90.0¢ | 93.0¢ | 89.0¢ | $66.20K | 72.22K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29997 | 89.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 92.5¢ | 34000 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| NZM (ASX) Chart |