In today’s briefing:
- Adaro Energy (ADRO IJ) Buyback – A Decent Chunk of 1 Year ADV
Adaro Energy (ADRO IJ) Buyback – A Decent Chunk of 1 Year ADV
- Yesterday, Indonesia’s second largest coal mining business Adaro Energy (ADRO IJ) announced a buyback. This follows another buyback which ended in December 2022.
- The Sep21-Dec22 buyback bought back 1bn shares, but did not spend all the money allocated to the buyback. This new one might buy back a similar quantity.
- Looking at Real World Float is the right frame of reference. And the stock was at a recent low vs a Peer Basket.
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