- Victory Square (VST) has been capitalizing on an undervalued share price with its share buyback program
- The company has cancelled 292,500 shares since March 2021
- It intends to accumulate cancelled shares to reissue them at a higher price for future financings
- Victory Square builds, acquires and invests in promising startups shaping the fourth industrial revolution
- Victory Square (VST) is up by 1.16 per cent and is currently trading at $0.435 per share
Victory Square (VST) has been capitalizing on an undervalued share price with its share buyback program.
It initiated the NCIB on January 25, 2021, retaining the services of Haywood Securities as its exchange member and broker.
The company’s guidelines include:
- Not purchasing shares greater than 20 per cent of the daily trading volume
- Not purchasing shares in the last 30 minutes of a trading day
- Only bidding on shares, though the company may buy an offer if it’s the last traded price
Haywood has executed the following trades under the program:
| Date | Number of shares | Average purchase price |
| 5 March 2021 | 55,000 | C$0.70 |
| 16 March 2021 | 50,000 | $0.83 |
| 30 September 2021 | 25,000 | $0.3970 |
| 1 October 2021 | 22,000 | $0.3961 |
| 4 October 2021 | 12,500 | $0.3938 |
| 8 October 2021 | 8,000 | $0.4391 |
| 12 October 2021 | 30,500 | $0.4412 |
| 13 October 2021 | 15,000 | $0.4369 |
| 14 October 2021 | 19,500 | $0.4332 |
| 15 October 2021 | 19,000 | $0.4473 |
| 18 October 2021 | 23,500 | $0.4280 |
| 19 October 2021 | 12,500 | $0.4140 |
Total | 292,500 |
The company will continue with its buyback program so long as the market price of its shares does not reflect their underlying value.
It is of the view that expending capital to purchase shares for cancellation to then reissue them at a higher price will provide a net benefit to shareholders.
Victory Square builds, acquires and invests in promising startups shaping the fourth industrial revolution. Its portfolio consists of over 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
Victory Square (VST) is up by 1.16 per cent and is currently trading at $0.435 per share as of 9:31 am ET.