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Author: Deep   |   Latest post: Fri, 9 Oct 2020, 11:57 PM

 

TOPGLOV (7113) - Top Glove spent RM 354,738,027.11 in September for Share Buyback !!! Good or Bad?

Author:   |    Publish date:


 

(27th September: Updated Share Buyback figure)

According to the announcement, Top Glove spent around RM 354mil (RM 354,738,027.11) for Share Buyback in September from 9th to 23th. The share buyback price is between 6.120 to 8.01. The total share buyback amount is almost 30% of its last QR net profit (~RM 1.3bil).


There are some people said that Top Glove should not spend so much cash to buy back its own shares. They should use the cash to expand their business, give out as dividends to shareholders, pay bank loans, etc....

Instead of criticizing the share buyback action, we should think in another way round. Who knows Top Glove business better? -> Company director, market analyst or retailers? Why are they willing to spend so much cash to buy back stocks? What are the impacts of share buyback? 

Over the past few weeks, there are a lot members are asking about share buyback. We will write a report to answer above questions and explain the share buyback action. This report will be shared to the public members in our telegram channel during this weekend. (Limited number of report)

 



Join our telegram channel to get the report !!!

https://t.me/bursashortterm

 

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Labels: TOPGLOV

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