According to the announcement, Top Glove
spent around RM 564mil (RM 564,639,998.73) for Share Buyback in
September from 4th to 23th. The share buyback price is between 6.120 to
8.01. The total share buyback amount is almost 50% of its last QR net
profit (~RM 1.3bil).
There are some people said that Top Glove should not spend so much cash to buy back its own shares. They should use the cash to expand their business, give out as dividends to shareholders, pay bank loans, etc....
Instead of criticizing the share buyback action, we should think in another way round. Who knows Top Glove business better? -> Company director, market analyst or retailers? Why are they willing to spend so much cash to buy back stocks? What are the impacts of share buyback?
Over the past few weeks, there are a lot
members are asking about share buyback. We will write a report to
answer above questions and explain the share buyback action. This report
will be shared to the public members in our telegram channel during
this weekend. (Limited number of report)