I've compiled a table and loaded it into this posting. Do note that due to sheer size of the table and that I am but human, error in data entry could happen. It's too huge for me to check back. :P
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As per my entries, it would appear that Parkson had spend some 93 million in share buybacks.
Average cost is around 4.42.
Oops.... how much is Parkson trading now? hmmmm..... LOL! Yeah... see, I am posting something positive, eh?
Ho ho ho.... how? Value woh... buy ah?
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Anyway... cough... cough... cough....
if the current share price of Parkson isn't taken into consideration... aren't you shocked at the monetary value of the share buybacks?
At least 93 million woh.
When I first blogged on this issue, almost exactly a year ago, Pakson Holdings Share Buybacks, Parkson back was sitting on a whopping 'paper loss' of around some 6.4 million. Now it's sitting on 'paper gains'. (Success story? LOL! See, I do give credit when credit is due)
How now my dearest?
:D
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harlooo... this is just a mere observation. And if you insist it's a tip... lol.... don't blame me if you don't lose money.
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ps... do you think it's ironic? Parkson has stopped buying back their shares since end March 2009. Their shares had been moving higher and higher since then. LOL! Maybe as some uncle would proclaim... Parkson is jinko to their own shares! LOL!
You should continue to update as they constantly buying back till April o9.On my last count the average prices around 4.2 to 4.3.Unlike ioi bought majority at around 7.their average is 5.5-5.7.The other counter to is gentm,till today still buying heavily.average cost is high.
ReplyDeleteLOL!
ReplyDeleteFinished my dear jitseng. :D
Me? I am not fan of buybacks. In my flawed opinion, I think the share buybacks by Parkson is simply reckless.
93 million spent on share buybacks is simply too mind boggling.
Surely the company has better thing to do than spend so much money and time (share buybacks were almost daily for Parkson) on share buybacks.
And if there is no other option, as a shareholder, my preference is to receive the money as dividends.
ps: If you want disaster buyback story, try MPI back in 2001.