It's not a stand in the market, but a chance for shareholders to tender their shares. Should be good for the SP. I'm not tendering any.
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Per this, it is a stand:
https://www.nzx.com/companies/IFT/announcements/244756
So you expect the shareprice to rise after this as it removes an overhand of people wanting to sell?
IFT is one of the cornerstone holdings of my 5y+ portfolio. I guess people who want to sell into the buyback will do so releasing any pressure. I will be buying more within the current range up to $2.50. I do not expect any major movements for the share price.
I don't know about you but I am finding this process a bit unusual.
Assuming there isn't an absolute horde of sellers it should mean you can palm off your shares for up to 2.60 for two hours from midday today.
Given all this is existing knowledge you'd think there would be more upward pressure on the price otherwise one can sell them and then buy them back at current price when the normal market re-opens.?
looks like they are acquiring their own shares at less than midday closing price with transactions taking place at 2:20 - 2:35 , so it would appear there are plenty of sellers. Odd, considering market was 2:40 prior to halt
Well, I'm not sure how effective that was at creating Shareholder wealth in general. Good quick way of spending $60m cash, hopefully the 4% dilution will bump the SP up but I doubt it somehow. Seemed to be a lot of sellers....
I can't properly think at the moment but I bought another parcel at $2.34 which is a 4c premium to the buyback price so I'm not a 100% certain why the share price is languishing at the moment? But then my timeframe on this one is super long anyway.
Peat - all transactions will go through at $2.38 I think... (?)
yes looks like that however there clearly are different prices being paid for different parcels.
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