In my last article, I shared that
share buybacks are a great way for companies to (indirectly) return money to shareholders, and boost shareholder value. Share buybacks could also be a signal that the management thinks the company’s shares are undervalued and, therefore, a great opportunity to buy them back while the price is low.
Knowing this, investors usually take heed when a company repurchases a large number of shares over a short period of time. As in the case of City Developments Limited (CDL):
Date of Buyback |
No. of Shares |
Cost |
Average Price |
Total |
2,400,000 |
$21,445,467.05 |
$8.94 |
16 August 2018 |
300,000 |
$2,852,198.31 |
$9.51 |
17 August 2018 |
200,000 |
$1,929,731.93 |
$9.65 |
23 August 2018 |
100,000 |
$943,442.64 |
$9.43 |
24 August 2018 |
100,000 |
$929,218.25 |
$9.29 |
29 August 2018 |
100,000 |
$951,007.41 |
$9.51 |
30 August 2018 |
100,000 |
$933,153.48 |
$9.33 |
31 August ... |