To avoid "timing" the buyback.
If companies self selected the time at which they purchased their own shares, there would be greater volatility in the SP so they buy back at selected intervals.
Tried to see how they average their buyback on the NZX and couldn't see any disclosure on how they did it but there must be some disclosure somewhere even for the NZX/ASX.
SPK Uptrend, page-9
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Last
$2.79 |
Change
-0.060(2.11%) |
Mkt cap ! $5.163B | |||
| Open | High | Low | Value | Volume |
| $2.81 | $2.83 | $2.76 | $3.765M | 1.347M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 110367 | $2.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.79 | 34448 | 16 |
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| Last trade - 13.07pm 08/10/2024 (20 minute delay) ? |
| SPK (ASX) Chart |