Barloworld gains after announcing share buyback
The industrial group’s stock has been pummelled in 2022, partly due to Russia being a key market
26 May 2022 - 14:11
Diversified industrial group Barloworld, which counts Russia as a key market, and whose shares have fallen more than a third so far in 2022, intends to buy back as much as a tenth of its shares, which it said are undervalued.
Barloworld’s shares rose 5.87% to R93.45 on Thursday afternoon, but they are still down about 38% in the year to date, wiping out roughly R12bn in shareholder value. The group is valued at R18.7bn on the JSE...
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