Letshego in P500m shares buyback

In a circular to shareholders, the micro-lender said the proposed scheme would see the company buying back 218 million of its issued 2.18 billion shares at a price of an estimated illustrative price of about P2.57 per share.

“The directors do not propose to exercise the share buy back mandate to such extent that it would materially affect the working capital requirements, financial flexibility or investment ability of the Letshego Group.