GENM (4715) GENTING MALAYSIA BHD buys back more shares as price remains above RM3-level
KUALA LUMPUR (March 16): Genting Malaysia Bhd (GenM), whose share price remains above the RM3-level, has continued with its share buyback exercise with total purchases of RM4.4 million in the open market today.
The 1.4 million shares were purchased at between RM3.11 and RM3.15, or an average price of RM3.1447 per share, according to the hilltop casino operator’s filing with the stock exchange.
The latest purchase raised its net outstanding treasury shares to 291.61 million, equivalent to 4.91%.
Last week, GenM spent a total of RM16.88 million to buy back its own shares. On March 11, it repurchased two million shares for about RM6.31 million at prices between RM3.15 and RM3.16.
The following day, it bought back 3.4 million shares for RM10.57 million, at prices between RM3.08 and RM3.12 per share.
With this, GenM has so far spent a total of RM21.28 million on share buybacks this month.
The last time GenM bought back its shares was on March 18, 2020. It then bought four million shares for RM8.34 million, at prices between RM2.04 and RM2.13 per share.
GenM’s shares closed five sen or 1.57% lower at RM3.13 today, valuing the group at RM18.59 billion. Some 12.39 million shares were traded.
GenM has shot up 32.6% over the last two months from RM2.36 on Jan 25. The counter had closed at a 13-month high of RM3.18 yesterday, before today’s slip.
http://www.theedgemarkets.com/article/genm-buys-back%C2%A0more-shares-price-remains-above-rm3level
