Alexander Forbes delays share buyback over market volatility
Move will strengthen group’s capital as well as liquidity, and ensure its sustainability in next months, group says
23 March 2020 - 08:14
Financial services group Alexander Forbes Holdings will postpone buying some R1bn in shares from its largest shareholder, Mercer Africa, due to market volatility caused by the coronavirus outbreak.
The decision not to proceed with the share buyback now will strengthen the group’s capital and liquidity position, “and ensure its robust sustainability through the difficult economic conditions expected over the forthcoming months”, Alexander Forbes said...
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