Long4Life eyes share buybacks rather than acquisitions
No opportunities have come Long4Life’s way that would be a better use for its cash than buying back its undervalued shares, says CEO Brian Joffe
21 October 2020 - 08:05
UPDATED 21 October 2020 - 18:35
Brian Joffe’s investment group Long4Life, which owns beauty chain Sorbet and Chill Beverages, views share buybacks as the best use of its money rather than acquisitions, having managed to mostly hold on to its cash pile in spite of the Covid-19 pandemic.
Long4Life's share surged 13% to R2.94 on Wednesday, its best performance in seven months, giving the group a market capitalisation of R2.4bn. The group's share has lost more than a quarter of its value in 2020, and trades at a hefty 54% discount to the group's net asset value per share...
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