Boku Extends Share Buyback Programme
Why we think this is neutral
The RNS announcement is a routine regulatory update on Boku's share buyback programme, which does not provide any significant new information about the company's underlying business performance or future prospects. While the buyback extension could be seen as a positive signal, the lack of more substantive updates means the overall impact on the company's valuation is likely to be limited.
Key Points
- Boku has completed a 4,000,000 share buyback programme
- The Board has approved an extension to repurchase up to a further 4,000,000 shares
- Berenberg Bank has reiterated a Buy recommendation and increased the price target to 230p
Summary
Boku, Inc. has announced that it has completed a share buyback programme of 4,000,000 common stock, representing around 1.3% of its issued share capital. The Board has now approved an extension of this buyback programme to repurchase up to a further 4,000,000 shares. The company has also received a Buy recommendation and increased price target from Berenberg Bank.