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Xinyuan Real Estate Co., Ltd. Message Board

  • doublej7844 doublej7844 Nov 16, 2012 1:58 PM Flag

    Share buyback

    When a buyback is initiated, would XIN want to spread it out over the year? Can they just as easily buy through the remainder of the $20 million this quarter or next (and then either announce it is complete or start a new one)? With the substantial increase in volume we are going through, it would seem that XIN could buy back $10 million this quarter. (I'm assuming that volume stays at 500K+ and they TRY to purchase the maximum, which would be more than 3.5 million shares). Would they rather string it along and make it last...?

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    • XIN can do anything it wants on Share Repurchase. If they wanted to, they could just turn the buying machine on "full blast" on auto pilot and not have to impose any blackout period at all.

      Something like "We're going to buy back the maximum amount of shares allowed under SEC Rule 10b-18 every trading day until our [$20] million Repurchase fund's used up." They could also add to the $20 million if they wanted to.

      The question of the total shares outstanding is complicated, though, by stock options coming into the money. For example, in either 1Q or 2Q, I can't remember which now, 1.3 million options became vested and in the money, which more than offset the 700k shares that XIN Repurchased.

      XIN's even got a tranche of these funky, incentive based options (3.9 million, maybe?) where there's no way for us to know the terms for when the options are in the money because they don't publish the standard by which they're judging performance.

    • I would rather have a special dividend with the money before year end and taxes go up.

 
XIN
3.23-0.09(-2.71%)Sep 19 4:04 PMEDT

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