I was looking at a report on LICs and NAV and noticed a few that were heavily undervalued. SB2 caught my attention. Some further digging revealed a share buy back is in progress. I then wondered why a relatively newly established LIC would want to buy back 10% of it's stock. It sets warning bells ringing as presumably the buy back is funded by debt. Setting aside any nefarious reasons, the only reason I can think of is that the Directors are trying to boost the price. Have I got this wrong and there are other nefarious reasons?
Share buy back
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Last
59.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $53.11M | |||
| Open | High | Low | Value | Volume |
| 59.0¢ | 59.0¢ | 58.5¢ | $11.74K | 19.91K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 17500 | 57.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 59.0¢ | 46074 | 1 |
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| Last trade - 12.23pm 06/08/2024 (20 minute delay) ? |
| SB2 (ASX) Chart |