Скачать или смотреть Apollo Commercial Announces $35M Share Repurchase Program

Apollo Investment Corporation (NASDAQ:AINV) said today that it has adopted a plan for the purpose of repurchasing up to $200 million of its common stock in accordance with guidelines.

The plan for the company is designed to allow it to repurchase its shares both during its open window periods and at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.

Apollo's board authorized the repurchase plan because it believes the recent market turmoil can cause the Company's common stock to be undervalued from time to time.

The timing and amount of any share repurcahses will depend on the terms of the conditions of the repurchase plan and no assurance can be given that any specific amount of common stock will be repurchased.

James Zelter, the Company's Chief Executive Officer said, "This decision is consistent with our long term strategy of seeking to create shareholder value."

Apollo Investment (NASDAQ:AINV) has a potential upside of 40.4% based on a current price of $8.43 and an average consensus analyst price target of $11.83.