"NIC intends to buy back up to US$100 million of its shares under the on-market buy-back. Given that United Tractors PTDanusa Tambang Nusantara (DTN) has a current ownership interest in the Company of ~20.0%, and hence execution ofthe buyback will result in their ownership interest exceeding 20%, DTN will require FIRB approval ahead of the Companypurchasing any of its shares. Therefore, the Company will only commence purchasing its shares once FIRB approval hasbeen received by DTN."
Even at about $0.65 per share, $100 million does not make a big dent in the number of NIC shares on issue. What it does do, starting at the end of this month providing United Tractors gets the regulatory nod, is put a floor on the share price for a year. Hopefully a rising floor.
I think that's a good thing.
- Forums
- ASX - By Stock
- NIC
- NIC - General discussion
NIC - General discussion, page-735
-
- There are more pages in this discussion • 298 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NIC (ASX) to my watchlist
(20min delay)
|
|||||
Last
85.3¢ |
Change
0.013(1.49%) |
Mkt cap ! $3.646B |
Open | High | Low | Value | Volume |
84.0¢ | 85.5¢ | 84.0¢ | $3.922M | 4.610M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
58 | 340021 | 85.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
85.5¢ | 453702 | 41 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
54 | 302049 | 0.850 |
18 | 367048 | 0.845 |
14 | 92920 | 0.840 |
18 | 281932 | 0.835 |
12 | 562392 | 0.830 |
Price($) | Vol. | No. |
---|---|---|
0.855 | 455411 | 39 |
0.860 | 408593 | 26 |
0.865 | 126792 | 15 |
0.870 | 189447 | 11 |
0.875 | 503138 | 7 |
Last trade - 15.55pm 24/09/2024 (20 minute delay) ? |
Featured News
NIC (ASX) Chart |
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Steven Gourlay, Managing Director and CEO
Steven Gourlay
Managing Director and CEO
SPONSORED BY The Market Online