Friday 20 July
Powered by Ajaxy
Dec 7, 2017 @ 16:56

Consunji firm approves P2B share buyback plan


Semirara Mining and Power Corp. will buy back shares worth up to P2 billion from the open market.

The Consunji-led company told the Philippine Stock Exchange its board had approved the repurchase of shares to enhance shareholder value and provide stockholders an opportunity to liquidate their investments.

“The buy-back is not an active and widespread solicitation, nor will it involve substantial number of shares, and will not adversely affect the corporation’s prospective and existing development projects,” Semirara said.

Semirara said the buyback would start from Dec. 8.

Shares of Semirara rose 7.04 percent to P38 apiece Thursday as investors cheered the company’s stock buyback announcement.

Tags: , , , , , , ,

Related Stories
The Persson family, which owns 45 percent of the capital in Swedish fashion retailer H&M,
This bank has allotted 30 percent of its earnings for dividend payouts.
It was the biggest fund-raising exercise in the bank’s history.
Will more minds mean bigger gains?


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.