I think there are 2 possible reasons why A2 has not started share buyback:
1. The company foresee the remaining FY being challenging and results will not be good. SP will tank even more therefore it's better to buyback later to get more bang for the buck. 2. Current interest rates are quite high and short term deposit is generating good saving returns. Therefore the huge pile of money is better to stay in the bank for a while longer to generate more cash and those cash can be further distributed to shareholders in due time.
I personally am hoping it's the second scenario! I think they probably can get 3% savings for short term deposit so it's a good 10 mil + per year income still.
A2M Price at posting:
$5.27 Sentiment: Buy Disclosure: Held
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