$YANGZIJIANG SHIPBLDG HLDGS LTD(BS6.SI)$
On 5 Nov 2021, YZJ exercised 5 million share buy back at SGD1.30
What may be the implication?
From Q3 result, part of its debt investments has been redeemed (SGD1.4B|CNY6.8). This means that YZJ is sitting on cash. Idle cash is costly so it can be reinvested in more shipyards, other businesses or maximised shareholder value through dividend/share repurchase.
At $1.30, the management feel its stock is undervalued.
The maximum number of share authorised to buy: 394,851,600
Q3 Result is past tense, stock is forward looking. Let me end with this sentence
挡风玻璃为什么比后视镜大,因为前面的路比过去的更重要,你可以回头看,但别忘了前行的路...
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