Banpu Public Company Limited (SET: BANPU) has disclosed through the Stock Exchange of Thailand that BKV Corporation (BKV), a 65.9 % owned subsidiary of BANPU listed on the New York Stock Exchange (NYSE: BKV), announced that its Board of Directors has authorized a 2-year share repurchase program which may repurchase from time to time up to USD 100 million of its outstanding common stock.
The timing and total amount of any share repurchases will be determined at the discretion of BKV management based on a variety of factors, including economic and market conditions, the stock price, its liquidity requirements and priorities, regulatory requirements, applicable legal requirements and other factors. The share purchases are expected to be funded through its cashflow or borrowings from financial institutions.
The authorization of this share repurchase program reflects confidence in the strength and the value being created through its US Closed-Loop Gas Business. Through a disciplined approach to capital deployment, which aims to drive long-term shareholder value while continuing to invest in high-impact growth opportunities.
BKV was first traded in the NYSE on September 26, 2024. The stock is now trading at $26.73 per share, up 48% from its IPO price of $18.00 per share.
