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Saturday, November 7, 1998
HSBC chief for transparency in buyback norms
PRESS TRUST OF INDIA
NEW DELHI, NOV 6: Securities and Exchange Board of India (SEBI) should not allow companies to buy back their shares from the open market as it could lead to price manipulation, HSBC capital markets chief executive Shaun Browne said today."Buyback from the open market may make the situation open to abuse as share prices could get inflated when companies announce plans to buy back their shares," Browne said. He also said there should be transparency in the buyback guidelines so that all the shareholders (specially small) get equal opportunity. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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