Silvercorp (SVM) is repurchasing its shares. At last. Well, I am really touched – the company fulfills its promises and has started its buy-back program.
According to the latest statement, it has repurchased as many as 788 thousand shares since November 23, 2017 (when the program was announced). I have no idea whether a recent jump in Silvercorp share prices is attributable to the buy-back program but…why not? Look at the chart below:
Source: Stockcharts.com
Summarizing – since the start of the buy-back program as many as 12.2 million shares of Silvercorp have changed hands at the Toronto Stock Exchange with 6.5% of this turnover being attributable to the program.
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