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Nanofilm spends $12.6 million on share buybacks following earnings surprise

The Edge Singapore
The Edge Singapore8/17/2021 10:53 PM GMT+08  • 2 min read
Nanofilm spends $12.6 million on share buybacks following earnings surprise
The shares were bought at between $3.81 and $4.52.
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Nanofilm Technologies International, facing a wave of downgrades from analysts from its earnings surprise, has spent $12.6 million to buy back more than 3 million shares these two days.

Following the company’s 1HFY2021 3.1% y-o-y earnings drop reported last Friday, Aug 13, investors on Monday, Aug 16, sold down Nanofilm’s shares by a third from Aug 13’s closing price of $5.97.

On Aug 16, it spent nearly $6.8 million to scoop up 1.55 million shares at between $4.21 and $4.52 each.

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