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Shriro Holdings Ltd. ( (AU:SHM) ) just unveiled an announcement.
Shriro Holdings Limited has completed a $5 million share buy-back involving 6,172,839 shares at $0.81 per share, which was oversubscribed by shareholders. Due to the high level of demand, applications for shares above individual shareholder entitlements were scaled back on a pro-rata basis, with the company accepting approximately 34.1% of additional shares tendered and applying a scale-back of about 65.9% on the excess, reflecting strong investor interest and a capital management approach aimed at optimising the company’s share structure.
The most recent analyst rating on (AU:SHM) stock is a Hold with a A$0.85 price target. To see the full list of analyst forecasts on Shriro Holdings Ltd. stock, see the AU:SHM Stock Forecast page.
More about Shriro Holdings Ltd.
Shriro Holdings Limited is an Australian-listed company on the ASX that operates across consumer and professional markets, distributing and marketing a range of household and lifestyle products. The company focuses on branded consumer goods and appliances within Australia and potentially broader regional markets.
Average Trading Volume: 382,303
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$60.95M
For detailed information about SHM stock, go to TipRanks’ Stock Analysis page.