JMART Jumps 10% as Boards Reflect High Confidence in Operations through Share Repurchase

The share price of Jaymart Group Holdings Public Company Limited (SET: JMART) rose more than 10% after the company announced to buy back its shares in the market.

JMART announced yesterday that the Board of Directors of the company No. 3/2023, resolved to approve the Shares Repurchase Project (Treasury Stock) for the financial management purposes, with the limit of not exceeding the amount of 400,000,000 Baht, the numbers of repurchased shares shall not exceeding 16,000,000 shares, at the par value of 1 Baht per share, equivalent to the amount of not exceeding 1.10 percent of the total shares sold.

The share price of JMART rose as much as THB1.9 or 10.21% to THB20.50 per share in the morning session on Friday.

JMART started to see some light this week after losing about 10% in a month and 50% from the beginning of this year.