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OUE buys back shares steadily, EuroSports Global does it sporadically

The Edge Singapore
The Edge Singapore3/24/2022 11:48 AM GMT+08  • 3 min read
OUE buys back shares steadily, EuroSports Global does it sporadically
EuroSports Global is taking orders for its X-1 electric motorbike / Credit: EuroSports Global
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Property group OUE has been buying back its shares at a steady pace. The most recent transaction was on March 21 when it acquired 10,000 shares on the open market at $1.29 each. This brings the total number of shares bought back under the current mandate to 8.09 million units.

Prior to March 21, OUE was buying back shares almost every other day since the start of the month. These range from as much as 92,400 shares on March 1 at $1.2916 each to as low as 10,000 shares on several other days. The prices OUE paid were kept within a tight range of around $1.29.

The company’s share price has been persistently trading at a very steep discount to its net asset value of $4.41 as at Dec 31, 2021, slightly higher than $4.24 as at Dec 31, 2020.

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