My take.
"The Capital Allocation Framework was originally announced at IPL’s Investor Day on 6 September 2022". The day before, the share price was $3.69. "On 15 November 2022, IPL also announced that it intends (sic commence) to undertake an on-market share buy back of up to $400m" when the share price was $3.74. In both periods, the share price had been higher in the preceding period.
This indicates that the IPL executive believe that it is a good investment in prices well over $3.75. Judging by other buy-backs, they tend to be executed most trading days, so i'd expect the buy-back to continue regardless of the price. I'd suspect that only if the share price was hitting high $4s or $5s that their would be a pause.
My take."The Capital Allocation Framework was originally...
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Last
$3.19 |
Change
0.020(0.63%) |
Mkt cap ! $6.039B | |||
| Open | High | Low | Value | Volume |
| $3.17 | $3.20 | $3.17 | $1.105M | 347.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 65338 | $3.18 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.19 | 31005 | 19 |
View Market Depth
| Last trade - 10.35am 27/09/2024 (20 minute delay) ? |
| IPL (ASX) Chart |