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News PPC launches US$10.8m share buyback

PPC launches US$10.8m share buyback

Written by Global Cement staff 27 June 2023
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South Africa: PPC has commenced a buyback of US$10.8m-worth of its registered shares, the Cape Times newspaper has reported.

Chief executive officer Roland Van Wijnen said "We have been very conscious of our capital allocation to ensure our debt levels come to acceptable levels and we have finally achieved that." He added "We believe our share price is well below the true value and therefore we believe it is better for our shareholders to initiate a share purchase rather than a distribution through cash."

Last modified on 28 June 2023
Published in Global Cement News
Tagged under
  • South Africa
  • PPC
  • Shares
  • Finance
  • buyback
  • debt
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