Infratil on-market buyback completed at $2.38 a share, or $59 million

Thu, 05 Dec 2013

Dec. 5 (BusinessDesk) – Infratil completed its on-market buyback at $2.38 a share, or a total of $59 million. The shares fell 1.7 percent to $2.34 when they resumed trading, having been halted for the buyback. The 24.8 million shares acquired by brokerage First NZ Capital on behalf of Infratil will be held as Treasury stock, shrinking total ordinary shares to about 561 million from 586.7 million. Infratil had been willing to pay up to $2.60 a share though as a result of demand it got the buyback away at a lower price and subject to scaling....

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