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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

Angela Tan

Published Thu, Oct 5, 2017 · 09:50 PM

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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