SIAEC struggles to recover from 6-year low despite buyback
Largest share buyback exercise in less than a year sees SIAEC pick up 419,300 shares on Wednesday
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Singapore
SIA Engineering Company (SIAEC) conducted its largest share buyback exercise in less than a year on Wednesday, coughing up S$1.36 million to buy back 419,300 shares as its stock price slumped beyond a six-year low.
Early Thursday, the aircraft maintenance, repair and overhaul (MRO) service provider, which boasts a cash balance of some S$629 million at the end of June 2017, disclosed that it had bought the shares back in the open market at S$3.15 to S$3.35 each.
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