Shelf Buyback update

Shelf Drilling is doing a fairly interesting buy-back programme for a number of reasons:

1) The company fundamentals are significantly improving for the moment. Look at this updated presentation for more information:

2) The buy back is highly accretive to NAV, which is estimated around NOK 65 per share

3) The buy-back is massive compared to daily trading volume. Shelf plan to buy back USD 25m over the next two years, which is around NOK 450.000 per trading day. This is around 1/3 of the daily volume in the stock (if we take out a few block trades from the statistics). So basically you have a daily buyer of 1/3 of the volume - nice.

The company needs to buy back around 20.000 stocks per day and so far (since september 2) they have only bought back around 14.000 stocks per day, so they are lagging behind - and still the stock is up massively in this period.
Redigert 21.01.2021 kl 02:14 Du må logge inn for å svare