In today’s briefing:
- United Tractors (UNTR IJ) Buyback – Sure to Be Impactful
- Morning Views Asia: Central China Securities, Powerlong Commercial Management Holdings
United Tractors (UNTR IJ) Buyback – Sure to Be Impactful
- Yesterday, United Tractors (UNTR IJ) announced a large share buyback. It’s a big buyback but perhaps not as big as the headlines (which say “up to 20%”).
- The buyback is for 5 trillion rupiah which is about 5% of market cap, and will be conducted on-market over the next three months.
- Looking at the early market reaction, my opinion is that the market does not seem to understand the consequences.
Morning Views Asia: Central China Securities, Powerlong Commercial Management Holdings
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
