Infratil will continue with $64 million buyback to bolster stock price

Thu, 14 Nov 2013

By Tina Morrison Nov. 15 (BusinessDesk) - Infratil, the listed infrastructure investor, will continue with a planned buyback worth as much as $64 million after putting the plan on ice last month while it mulled another transaction. Infratil plans to buy as many as 24.8 million of its own shares at a maximum price of $2.60 per share through a tender process open to all shareholders on Dec. 5, the Wellington-based company said in a statement. The company is undertaking the buyback in an attempt to lift the value of its shares closer to what i...

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