Direct Repurchase

Direct Repurchase

The act of a publicly-traded company buying back its own shares from shareholders. This is done to reduce the number of shares outstanding and is a common practice when the company's management believes that its shares are undervalued.
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Further, immediately after the early settlement date and after giving effect to the direct repurchase of an estimated USD29.7m total of the notes from some lenders under the new credit facilities, about USD2.0m total of notes remained outstanding.
The bank is to shift to direct repurchase operations as its main policy tool in a bid to address a liquidity strain.
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