SINGAPORE (Apr 22): Beauty and health product seller Best World International has bought back shares in recent weeks as it awaits the findings of an independent review initiated last month to address questions over its business operations in China, its new high-growth market.
Two of the company’s controlling shareholders, co-chairmen and co-founders Dora Hoan and Doreen Tan, have bought shares in their personal capacities as well. Even so, the company’s share price continued its downtrend.
The current round of share buybacks commenced on April 9, when the company bought back 115,000 shares at between $1.98 and $2.01 each. On April 11, it paid between $1.92 and $1.97 each for another 100,000 shares. The following day, Best World’s share price continued to fall and the company bought back 30,000 shares at between $1.77 and $1.78.
