TMT Investments (LON:TMT – Get Free Report) declared that its board has approved a share buyback plan on Wednesday, May 20th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
TMT Investments Stock Up 2.0%
LON:TMT traded up GBX 0.05 on Wednesday, reaching GBX 2.50. The stock had a trading volume of 48,179 shares, compared to its average volume of 19,589. The stock has a fifty day moving average price of GBX 2.37 and a 200-day moving average price of GBX 2.57. TMT Investments has a 1-year low of GBX 2.06 and a 1-year high of GBX 3.55. The company has a market capitalization of £770,000.00, a P/E ratio of 0.05 and a beta of 0.94.
About TMT Investments
Since inception, TMT’s portfolio has generated US$113m worth of full and partial profitable exits, of which a number were landmark multi-million dollar exits, and a 14.3% IRR (internal rate of return).
TMT’s largest holdings include mobility company Bolt, fintech 3S Money and cloud storage company Backblaze (quoted on NASDAQ).
Substantial cash exits from the exit of Wrike ($23m in 2018), Pipedrive (US$44.4m in 2020) and Depositphotos (initial cash exit consideration of US$12.9m in 2021), together with other cash exits and the proceeds of the Company’s fund raise conducted in October 2021 (which raised US$19.3m before expenses), have been reinvested into earlier and mid-stage companies as part of planning the next generation of the portfolio’s potential winners.
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