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CC · 2023年07月19日

CF 回购方式讨论

NO.PZ2016021705000058

问题如下:

If a companys objective is to support its stock price in the event of a market downturn, it would be advised to authorize:

选项:

A.

an open market share repurchase plan to be executed over the next five years.

B.

a tender offer share repurchase at a fixed price effective in 30 days.

C.

a Dutch auction tender offer effective in 30 days.

解释:

A  is correct.

Of the three methods, only an authorized open market share repurchase plan allows the company the flexibility to time share repurchases to coincide with share price declines.

老师,这道题我有两个疑问:1. 看解析的意思是只有A选项最终能在下行市场以低价买入,那B是以溢价到市价这区间的价格来买么?C选项也是以溢价来买,特殊时期是折价,对么?

2.这个30天,定义里也没明确,都是一段时间,怎么讲?


1 个答案

王琛_品职助教 · 2023年07月20日

嗨,从没放弃的小努力你好:


1

这道题,可以从两个角度辨析三个选项的区别

第一个角度是,回购的方法必须能支持股价 "support its stock price"

第二个角度是,市场下行对回购方法时效的影响 "in the event of a market downturn""

2

这道题我之前刚好总结过,请同学先参考一下:https://class.pzacademy.com/qa/64656

如果同学还有疑问,可以追问或者评论,我再回答同学的后续疑问哈

----------------------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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