ADF Group Inc. SV (TSE:DRX) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
ADF Group Inc. has announced the buyback of 2,766,287 shares from the Paschini family, key insiders and board members, at a price of $17.31 per share, amounting to $47.9 million, with the transaction aimed at creating shareholder value and being immediately accretive to earnings per share. The repurchase reflects an 8.5% discount to the recent closing price, and the company will fund this from its existing cash reserves. The Paschini family, post-transaction, will retain a significant control of the company, with a promise not to sell any additional shares for 120 days.
For further insights into TSE:DRX stock, check out TipRanks’ Stock Analysis page.
