First NZ Capital stands in the market for Infratil buyback at up to $2.60 a share

Wed, 04 Dec 2013

Dec. 5 (BusinessDesk) – Brokerage First NZ Capital has been tapped to buy up to 24.8 million Infratil shares for as much as $2.60 apiece for the investment company’s on-market buyback. Infratil’s shares last traded at $2.38 and have gained 4.9 percent this year. The stock is rated a ‘buy’ based on six analysts polled by Reuters, with a median price target of $2.81 The company is flush with cash after teaming with the NZ Superannuation Fund to raise $840 million from the selldown of Z Energy in August, even after delaying the $64 million buyb...

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