Capitaland: Continues with its share buy-back program, picking up another 288,000 shares at an average of $2.58653/share yesteday. Cumulative no. of shares purchased to date stands at 1.78m shares, or 0.042% of total shares.
While the quantum is not very significant, we note it serves as an important function as an indication that yesterday's buy-back was not a one-off event. This could prove to be the catalyst for a sustained re-rating of this stock.
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