Sygnus Credit Investments (SCI) is launching a second share buyback programme of up to $4.5 billion over the next three years.
The programme will allow SCI to repurchase its Jamaican and US dollar ordinary shares through open market transactions on the
Jamaica Stock Exchange, particularly when the shares are trading at a discount to the company's net asset value.
The programme runs until June 29 and will be guided by market conditions, trading liquidity and board-approved criteria.
SCI says that the buybacks will be funded from available cash while maintaining positive retained earnings.
SCI reported a 123.4 per cent increase in net profit to US$9.6 million for the financial year.
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