Investore Property Limited announces a share buyback programme of up to 5% of its shares on issue over the next 12 months.
Details of the programme, including its commencement date, are to be announced in the coming weeks.
See moreThe S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.
Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).
An investment firm bought the stake, which included 116,145 hectares of forestry.
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