Yangzijiang Financial Holding has commenced its share buyback, just a day after it was given the mandate by shareholders to do so.
In an SGX filing on June 9, the company said it has bought one million shares at 51 cents each.
On June 8, after shareholders gave the nod at an EGM, the company announced it has allocated $200 million to buy back shares.
The company’s NTA per share is $1.08. It started trading at 69.5 cents.
YFH shares closed June 9 at 51 cents, down 2.86%.
