The resumption came as the oiler said its current share price “significantly” undervalued its assets
() has resumed a US$10mln share buyback as part of an effort to boost its share price value.
The oiler said that it believed its current share price “significantly” undervalued its assets and that the buyback represented a “value accretive use” of cash resources.
READ: Cash rolls in as production rises at Genel Energy
The group has already purchased shares worth just under US$3mln, while the total number of shares to be purchased is planned to be around 27.9mln.
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