Wealth management fintech platform iFast Corporation is buying back shares after announcing a net loss for its 2QFY2022 ended June because of an impairment.
On July 25, the company acquired 106,900 shares at between $3.74 and $3.75 each, bringing the total number of shares bought back under the current mandate to 506,900 shares.
The following day, executive chairman Lim Chung Chun increased his stake as well. Through a nominee account, he acquired 34,100 shares for a total of $129,474 or around $3.80 each share. He now has a total interest of 59.48 million shares, equivalent to 20.306%.