Yes.....it could. But that's if they actually use it. Even though the bought back 1 million-ish shares last quarter their outstanding share count actually went up, not down. And that share increase was mainly due to options granted to Management. The share-count went from 71 million shares last year to 76 million shares this year. And, that is a gross disappointment to me. They should be ashamed of letting the share count increase while revenue and profit decrease. It is a huge disappointment.
You got it right Mayo. They are lining their pockets at shareholders expense and they could care less
what shareholders think. I don't think they care that the last analyst they had was Roth, and no analyst will touch this stock, let alone anyone buying.
XIN sold about 6 million ADS to TPG at $5.48....which is the primary reason the share count went up. The shares they bought back were bought back previously at around $2.50 ADR. XIN is currently working on buying back shares to issue to TPG at $6/ADR in 2018.