Investore to buy back up to 5% of shares on issue; cornerstone investor, manager Stride not interested

Wed, 01 Aug 2018

By Paul McBeth Aug. 1 (BusinessDesk) - Large format retail property investor Investore Property will buy back up to 5 percent of its shares on issue, or about $20 million of stock, but cornerstone shareholder and external manager Stride Property won't be taking part. Auckland-based Investore, whose portfolio is dominated by Countdown supermarkets and Bunnings hardware stores, will start the buyback programme from Aug. 6 for as many as 13.1 million shares which would then be cancelled. The stock rose 0.7 percent today to $1.53. "The b...

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