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Hot stock: Seatrium up 5.6% on S$100 million share buyback programme

Offshore and marine giant says the scheme could take more than a year to be completed, depending on the prices at which the shares are repurchased

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Mia Pei

Mia Pei

Published Mon, Apr 29, 2024 · 08:12 AM
    • The buyback programme will be undertaken pursuant to the share purchase mandate which was approved by shareholders at the recent annual general meeting.
    • The buyback programme will be undertaken pursuant to the share purchase mandate which was approved by shareholders at the recent annual general meeting. PHOTO: SEATRIUM

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    SEATRIUM’S shares rose 5.6 per cent amid heavy trading after announcing its plan to buy back up to a maximum of 2 per cent of its total issued shares under a S$100 million share buyback programme on Monday (Apr 29).

    As at 10.18 am, the counter was up S$0.005 at S$0.094, the top traded by volume on the Singapore Exchange with 363.4 million shares changing hands.

    Seatrium noted that depending on the prices at which the shares are repurchased on the open market, the programme could take more than a year to be completed.

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