Cebu Air Board of Directors Approves Share Buyback Program
The Board of Directors of Cebu Air Inc. (PSE: CEB) recently approved the creation and implementation of a share buyback program involving up to PhP2 billion worth of the company’s common shares, representing approximately 4.22% of the company’s current market capitalization.
The share buyback program is expected to enhance shareholder value and to manifest confidence in the corporation’s value and prospects.