BASF may start an at least €4 billion share buyback earlier than planned, as Europe’s biggest chemicals maker looks to bolster its stock price in an industry struggling with tepid demand. https://t.co/uOPxseEmPO ...

THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, ITALY, DENMARK, JAPAN, THE UNITED STATES, OR TO ANY NATIONAL OF SUCH JURISDICTIONS St Peter Port, Guernsey 30 September 2025 NB Private Equity Partners (“NBPE” or the “Company”) today announces details of Class A Shares bought back pursuant to general authority granted by shareholders of the Company on 12 June 2025 and the share buy-back agreement with Jefferies International Limited. Transaction ...

Core Insights - Companies in Singapore are actively engaging in share buybacks, indicating management's confidence in their own valuations amidst market uncertainties [1][17] - Notable participants in the buyback activity include United Overseas Bank (UOB), Oversea-Chinese Banking Corporation (OCBC), and Sembcorp Industries, with combined repurchases exceeding S$900 million in September [1][17] United Overseas Bank (UOB) - UOB repurchased S$561 million worth of shares, representing nearly 1% of its market capitalization [3] - The bank reported total income of S$7.1 billion, a 1.8% year-on-year increase, while net profit declined by 2.9% to S$2.8 billion due to pre-emptive provisions [4] - Non-interest income rose 6.3% year-on-year to S$2.4 billion, driven by an 11% increase in fee and commission income [5] - UOB's asset quality remained stable with a non-performing loan (NPL) ratio of 1.6% [6] Oversea-Chinese Banking Corporation (OCBC) - OCBC engaged in S$349 million in share buybacks, approximately 0.5% of its market capitalization [7] - The bank's total income slightly decreased by 1% year-on-year to S$7.2 billion, with net profit falling 6% to S$3.7 billion [8] - Net interest income fell by 5% year-on-year to S$4.6 billion, while non-interest income increased by 8% to S$2.6 billion [9] - OCBC's asset quality remained strong with an NPL ratio of 0.9% [10] Sembcorp Industries - Sembcorp Industries repurchased S$59 million in shares, around 0.5% of its market capitalization [12] - The company reported an 8% year-on-year decline in revenue to S$2.9 billion, while net profit edged down 1% to S$536 million [13] - Free cash flow improved significantly to S$241 million from negative S$51 million a year ago, reflecting progress in its transformation strategy [13][14] - Sembcorp raised its interim dividend by 50% to S$0.09 per share, indicating confidence in its ongoing transformation [15]

Core Insights - Kingfisher has raised its full-year 2025 profit guidance following profit growth in the first half of the year [1][3] - The company reported a total sales growth of 0.8%, reaching £6.8 billion ($9.1 billion) for the six months ending July 31 [1][2] - Statutory pre-tax profit increased by 4.1% year-on-year to £338 million, while adjusted pre-tax profit grew by 10.2% to £368 million [1][2] Financial Performance - Gross margin expanded by 100 basis points to 37.7%, resulting in a 2.1% increase in operating profit to £383 million [2] - Free cash flow rose by 13.5% to £478 million, and net debt decreased from £2 billion to £1.7 billion [2] - The interim dividend remained stable at 3.8p per share [2] Regional Sales Performance - In the UK and Ireland, sales increased by 4.5% to £3.5 billion, with like-for-like sales up by 3.9% [2] - B&Q's like-for-like sales grew by 4.4% to £2.2 billion, while Screwfix sales increased by 3% [2] - In France, like-for-like sales for Kingfisher's brands Castorama and Brico Dépôt fell by 2.1% to £2 billion [2] Future Outlook - The adjusted pre-tax profit for the full year is now expected to be at the upper end of the £480 million to £540 million range [3] - Free cash flow is forecasted to be between £480 million and £520 million, an increase from the previous estimate of £420 million to £480 million [3] - Kingfisher plans to accelerate its share buyback program, expecting to complete the £300 million repurchase by March 2026 [3] Management Commentary - CEO Thierry Garnier highlighted strong first-half performance with a like-for-like sales growth of 1.9%, driven by increased volumes and transactions [4] - The company experienced double-digit growth in strategic initiatives, trade, and e-commerce, contributing to market share gains [4] - There was a noted quarter-on-quarter growth in core categories and a third consecutive quarter of growth in big ticket sales [4]

Commerzbank is kicking off a share buyback worth as much as €1 billion ($1.2 billion) after securing the necessary approvals from regulators https://t.co/vlYOyLCmuE ...

Core Insights - Raymond James (RJF) shares reached a new 52-week high of $176.65, reflecting a 16.2% increase over the past three months, outperforming the industry and major indices, although underperforming compared to peers like Morgan Stanley and Evercore [1][10]. Investment Banking Performance - The Federal Reserve's recent rate cut of 25 basis points is expected to enhance investment banking income, with further cuts anticipated, which could stimulate deal-making activities in the industry [4]. - RJF's investment banking fees, which had declined in 2022 and 2023, grew by 7% in fiscal 2024, with continued momentum in the first nine months of fiscal 2025 [5][6]. - A robust pipeline and an active M&A market are likely to drive further improvements in RJF's investment banking fees [6]. Strategic Growth Initiatives - Raymond James has made several strategic acquisitions, including Solus Trust Company Limited in Canada and others in the U.K. and the U.S., positioning the company for future growth [7][8]. - The company has entered the private credit business through a partnership with Eldridge Industries, indicating a focus on expanding its service offerings [8]. Capital Distribution and Valuation - RJF has a strong track record of increasing dividends, with an 11.1% hike announced in December 2024, and a total payout growth of 18.14% over the past five years [11]. - The company has a share repurchase plan authorized for up to $1.5 billion, with $749 million remaining as of June 30, 2025, supporting efficient capital distributions [15]. - RJF's forward P/E ratio of 15.15X is slightly below the industry average of 15.31X, indicating that its shares are trading at a discount compared to peers [16]. Financial Outlook - The Zacks Consensus Estimate for RJF's earnings is projected at $10.31 for fiscal 2025 and $11.59 for fiscal 2026, reflecting growth rates of 2.6% and 12.5%, respectively [25][27]. - Despite solid prospects in investment banking and a strong balance sheet, concerns remain regarding unsustainable brokerage fee income and rising expenses, which have seen a CAGR of 8.5% over the last three fiscal years [21][23][30].

Group 1 - The trend of small-cap firms loading their balance sheets with cryptocurrencies is beginning to show signs of distress, as many are now resorting to debt-funded share buybacks to support falling stock prices [2][8] - At least seven companies, including those in online gaming, golf cart manufacturing, and biotech, are actively buying back their shares [2] - Market values of some firms have fallen below the worth of their crypto assets, indicating investor skepticism about the sustainability of the crypto treasury strategy [3][8] Group 2 - The acquisition of Semler Scientific by Strive Asset Management highlights how companies trading below the value of their crypto holdings are becoming attractive for takeovers [4] - ETHZilla, which rebranded and invested in ether tokens, experienced a 76% drop in stock price from its peak, illustrating the volatility associated with crypto investments [4] - Empery Digital has expanded its debt facility to $85 million for share buybacks, despite holding $476 million in Bitcoin, which exceeds its $378 million market cap [6] Group 3 - Analysts express concerns that using debt for share repurchases contradicts the foundational principles of the crypto treasury model, which relies on the appreciation of digital assets [5][6] - Companies like SharpLink Gaming, Ton Strategy, and CEA Industries are also implementing similar buyback strategies after their token-heavy approaches failed to perform in the market [7][8]

Core Viewpoint - Kingfisher's shares increased significantly following a strong first-half trading update, leading to an upgrade in full-year profit forecasts [2][8] Financial Performance - Total sales reached £6.8 billion for the six months ending in July, reflecting a year-on-year increase of 0.8% and a like-for-like growth of 1.3% [2] - Gross margins improved by 100 basis points to 37.7%, resulting in a 2.1% increase in operating profit to £383 million [3] - Pre-tax profit rose by 4.1% year-on-year to £338 million [3] - Free cash flow increased by 13.5% to £478 million, contributing to a reduction in net debt from £2 billion to £1.7 billion [3] Regional Performance - In the UK and Ireland, sales grew by 4.5% to £3.5 billion, with like-for-like sales up by 3.9% [4] - B&Q outlets saw a 4.4% increase in like-for-like revenues to £2.2 billion, while Screwfix sales improved by 3% [5] - France experienced a decline in first-half sales by 2.4% to £2 billion, with like-for-like sales down by 2.1% [5] - In Poland, reported sales rose by 0.5% to £946 million, but like-for-like sales fell by 2.1% [6] - Combined sales in Spain and Portugal increased by 9.6% to £219 million [6] Strategic Outlook - The company raised its full-year profit estimates, now projecting pre-tax profit at the upper end of £480 million to £540 million [8] - Free cash flow expectations were also increased to £480 million to £520 million, up from previous estimates [8] - Kingfisher plans to accelerate its £300 million share buyback program, expected to be completed by March [8] Management Commentary - CEO Thierry Garnier highlighted strong first-half performance driven by increased volumes and transactions, with positive quarter-on-quarter growth in core categories [7] - Despite mixed consumer confidence and political uncertainty, the market outlook remains unchanged [7] - Analyst Adam Vettese noted commendable operational execution in a challenging retail environment, with solid progress at B&Q and Screwfix [9]

Core Viewpoint - Victory Square Technologies Inc. has announced its intention to commence a Normal Course Issuer Bid (NCIB) to purchase up to 5,000,000 common shares, representing approximately 5% of its issued and outstanding shares, as a strategy to enhance shareholder value [1][2][3]. Group 1: NCIB Details - The NCIB will commence on September 24, 2025, and will remain in effect until September 23, 2026, or until the maximum number of shares has been purchased [2]. - Purchases will be made at prevailing market prices through the facilities of the CSE and/or other permitted trading systems [2]. - BMO Nesbitt Burns Inc. has been appointed to coordinate and facilitate the purchases under the NCIB, with all purchased shares to be cancelled [3]. Group 2: Strategic Capital and Growth - In 2022, the company raised strategic capital to fund infrastructure for Hydreight Technology Inc. and VSDH, avoiding shareholder dilution while strengthening its core IP [4]. - A lender exercised an option to convert capital into Hydreight shares at a 20% discount, resulting in the transfer of 607,057 shares to settle $1,600,000 in debt [5][6]. - Following this settlement, the company holds approximately 25,326,124 Hydreight shares valued at around $122.3 million, with no outstanding debt [6]. Group 3: 2025 Priorities and Future Outlook - Management set three clear goals for 2025, with the initiation of the NCIB being the next logical step in returning value to shareholders [7]. - The CEO emphasized that the strategic capital raised in 2022 helped scale businesses like Hydreight and VSDH, which now represent significant value for the company [7]. - The current market capitalization is believed to not reflect the value of the company's portfolio, which includes various companies targeting large addressable markets [9]. Group 4: Upcoming Investor Engagement - Victory Square will host an Investor Webinar on October 2, 2025, to provide a detailed NAV breakdown of the company's portfolio and highlight upcoming catalysts [10].

Group 1 - Nexity has announced the implementation of a share buyback program, authorized at the Shareholders' General Meeting on 22 May 2025, covering a maximum of 200,000 shares [2] - The shares acquired through the buyback will be allocated to cover free share plans, particularly for employee share ownership schemes [2] Group 2 - In 2024, Nexity reported revenues of €3.5 billion and operates as an urban operator focused on urban regeneration and regional needs [3] - The company emphasizes its dual expertise as a planner/developer and developer/operator, offering a multiproduct range of services and solutions [3] - Nexity is committed to affordable and sustainable real estate, being recognized as France's number-one low-carbon project owner for six consecutive years [3] - The company ranked fifth in customer relations according to Les Échos and HCG, and received a 5 out of 5 rating from Humpact for its human capital development [3] - Nexity is listed on the SRD, Euronext's Compartment B, and the SBF 120 [3]