marazul Posted April 14, 2016 Posted April 14, 2016 Hi, As you know, buybacks below BV generally increase IV per share. Some companies have managed to take advantage of Mr. Market´s behavior by buying back a significant amount of shares below tangible book value. I think it would be nice if we come up with a list of these names. -Some of the TBTF banks (i.e. C, BAC, GS) have bought back some stock but they haven´t been as effective because of limits by regulators. -KCG has been buying back stock below TBV of ~$15 AND this is without taking into account the FV of its ownership (17%) in BATS which IPOd today.
randomep Posted April 15, 2016 Posted April 15, 2016 KCLI - regular buybacks and a tender offer retired about 10% of shares last year
rishig Posted April 15, 2016 Posted April 15, 2016 Cheung Kong Property (HKG:1113) buying back at 30% discount to reported NAV, largest discount since the '09 crisis. http://www.bloomberg.com/news/articles/2016-03-21/cheung-kong-property-rises-to-two-month-high-after-share-buyback
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