Friday 19 October
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.

Please follow and like us:

Tags: , , , , , , ,

Related Stories
The country's biggest bank is giving back to trusting investors.
The banking arm ofthe Cebu-based Aboitiz family has priced its stock rights offering at P62.97
Investors of this bank will be rewarded for their trust.
The Persson family, which owns 45 percent of the capital in Swedish fashion retailer H&M,


 

Trending News

Recommended on sister sites

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