Australia's DDH1 set for best day ever on share buy-back announcement

DDH1

01/07/2022 04:41

** Shares of mineral drilling contractor DDH1 Ltd  DDH.AX 
rise as much as 19.5% to A$0.765, on track to record best day
ever, if gains hold
    ** DDH initiates share buy-back program of up to 10% of its
issued capital or 34.3 million shares over the next 12 months
 urn:newsml:reuters.com:*:nASX1mPxY2
    ** Co says prevailing price has undervalued DDH1 and hence
the buyback
    ** Shares hit highest level since June 10
    ** Stock posts third straight day of gains
    ** Stock has fallen about ~42.1% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))