Property

Metlifecare attracts 'credible' bidder after biggest trading day in 2 1/2 years

Paul McBeth
Wed, 20 Nov 2019

Metlifecare has suspended its share buyback programme as it considers a "credible" suitor who's lobbed in a sub-par conditional offer.Yesterday, the company's shares had their busiest trading day in more than two-and-a-half years. The retirement village operator and developer had only just embarked on a $30 million share buyback in an effort to bridge the discount between its share price - currently at $5.08 - and its net tangible asset value of $6.96. That's been shelved for now while the board considers a "highly conditional, non-binding...

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