Silverlake Axis offers to buy back up to 9.1% of shares at S$0.33 each

Singapore

FINTECH company Silverlake Axis is offering to buy back up to 242.4 million shares - representing around 9.1 per cent of the total number of its shares in issue - at S$0.33 each in cash, as part of an off-market equal access offer.

The buyback will enhance shareholders' value as it reduces the number of shares in circulation, hence raising the earnings per share of the company, it said in a bourse filing on Monday (Mar 14).