Number of shares a shareholder can tender per shares held in a buyback.
A "Buyback ratio" defines how many shares a company will repurchase based on the number of shares held by an investor. This ratio is crucial in the company's share buyback program, determining how many shares a shareholder can offer for repurchase.
For example, if a company announces a buyback ratio of 3:20, shareholders can tender 3 shares for every 20 shares they hold. This ratio dictates the entitlement of shareholders to participate in the buyback.
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