Kimly is one of the leading F&B players in Singapore. It runs a total of 68 food outlets and 130 food stalls in the city state. The company went public in March 2017 at 25 cents. Its share price doubled to 51 cents on its third trading day but has since dropped to just over 20 cents.
SINGAPORE (Jun 3): Kimly, which runs a chain of coffee shops, has been steadily buying back shares from the open market since late March. The latest purchase, of 860,000 shares at 24 cents, was made on May 27. This follows a purchase of 230,000 shares at the same price on May 22.
Kimly’s current streak of share buybacks began on March 27, when it bought 210,000 shares at 23.5 cents each. With the May 27 purchase, the company has bought back a total of 5.65 million shares. Under Kimly’s share purchase mandate, it can buy back up to 115.5 million shares.
