The most recent purchase was on Jan 17, when it bought a whopping 10 million shares at between $2.96 and $2.99 each. This brings the total number of shares bought back under the current mandate to around 35.4 million shares, equivalent to 0.59% of the total share base. At about $3, CLI’s share price is at its lowest level in the past year.
Blue-chip companies CapitaLand Investment (CLI) and Venture Corp have been stepping up their share buybacks in recent weeks. CLI, which has been making occasional buybacks, went on a buying spree after it warned early last month that earnings for FY2023 ended December 2023 will see a “significant decrease” over the preceding FY2022. CLI will report its FY2023 results on Feb 28.
On Jan 10 and 12, CLI acquired over one million shares and 2.54 million shares at $3 each respectively on the open market. The buying resumed a few days later on Jan 15 when it acquired 297,400 shares at between $3 and $3.01. The following day, CLI bought another 90,100 shares at $3.01 each.
