Com7 Public Company Limited (SET:COM7) announces a share repurchase program. Under the program, the company will repurchase up to 45,000,000 common shares, representing 1.88% of its issued share capital for THB 800 million. The shares will be repurchased at a price not exceeding 115% of the average closing price of five consecutive business days prior to each repurchase date.
The program is being conducted for financial management purposes like to manage the excess liquidity of the company, enhance the ratios like return on equity and the earning per share. The repurchased shares will be resold or written off. The program will expire on December 31, 2024.
As of March 8, 2024, the company had 2,399,998,265 issued and outstanding shares.
Com7 Public Company Limited is a Thailand-based company. The Company is engaged in the retail business of information technology (IT) products, mobiles and accessories, providing repair services for IT gadgets, providing financial services for mobiles, selling pet feeds, and other relevant services. The Company operates through two reportable segments: Retail and Others. Its products include desktop computers, portable computers, mobile phones, tablets, and various lifestyle devices. It has seven types of business models: Retail Business (Retail), Business-to-Business (B2B), Service Business (Service), Online Retail Business (Online), Insurance business (Insurance), IT Product wholesale business (Distributor), and Hire Purchase Business (Hire Purchase). Its branches cover approximately 75 provinces from 77 provinces that operate under the brands BaNANA, Studio7, BaNANA Mobile, BaNANA Equip, BaNANA Outlet, Banana Stand Alone, BKK, KingKong Phone, B-Play, Bb-Move, and Brand Shop.
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