Seatrium launches $200m share buyback programme

The company may repurchase up to 2% of its total issued shares.

Seatrium Limited has established a $200m share buyback programme after fully utilising its previous $100m initiative on 1 September.

The programme will be carried out under the company’s share purchase mandate, which is subject to shareholder approval at each annual general meeting, according to a bourse filing.

Seatrium may repurchase up to 2% of its total issued shares, subject to its prescribed parameters and guidelines.

The share purchases will be made progressively, taking into account prevailing share prices, market conditions, and its capital management priorities.

The programme will be funded by existing cash resources.

“Underpinned by strengthened fundamentals and margins, as well as a robust global pipeline of opportunities that we are pursuing, we have a clear pathway for further growth,” said Seatrium CEO Chris Ong.