For INVEO stocks, whose value has fallen by half since the peak level, the boss has updated its share buyback program. The number of shares to be repurchased will be more than twice as much as before.
The recent declines in Borsa Istanbul have destroyed the value of many companies. In fact, many stocks are in danger of returning the astronomical value increases experienced in 2022. In fact, some companies implement share buyback programs to support their investors and prevent the decline in share values. But the selling wind has gotten very strong in recent days. This causes buyback programs to be insufficient to prevent the decline most of the time.
Sharp drops in INVEO share prices
That’s why experts actually recommend that companies announce stronger share buyback programs. One of the first companies to heed this proposal was INVEO Investment Holding. INVEO shares have been falling since the peak of 36.12 TL on 24 November 2022. As of 13:25 today, INVEO share price has reached 18.21 TL. This means a 50 percent loss from the summit to today.
Moreover, these price levels are actually close to INVEO’s levels at the beginning of 2021. That is almost two years ago prices. Considering that even the official inflation experienced in the country during this period exceeded 100 percent, the decline in the share in real terms seems much higher. Looking at the dollar basis, it is noteworthy that the share prices have decreased to 2020 levels.
This situation seems to have mobilized the management of the company. INVEO Investment Holding made an increase in the INVEO share repurchase program in its statement to the Public Disclosure Platform today, increasing the number of purchases 2.15 times compared to the old program.
1.95 million INVEO share purchase target increased to 4.2 million
In the statement made to KAP by INVEO Investment Holding, the following statements were included:
“We continue our efforts to contribute to the development of our country’s Capital Markets.
In this direction, we have emphasized and continue to emphasize our confidence in the capital markets with the buyback programs we have been conducting since the beginning of 2022.
Finally, as stated in the statement we made today (https://www.kap.org.tr/tr/Bildirim/1146614); Depending on the market conjuncture, our repurchase program has been updated in order to stabilize the volatility of Inveo Yatırım Holding A.
With the buyback program that we started on 14.02.2023, it was decided to revise the maximum number of shares that can be subject to repurchase, which was determined as 1.950.000 shares, as 4.200.000, and the fund to be allocated for the buy-back, which was determined as 50.000.000 TL, to be revised as 100,000,000 TL. ”
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