Spark has announced a new on-market share buyback programme, aiming to return up to $350 million to shareholders.
The buyback will commence on April 8 2024, and is being undertaken as part of the company's efforts to return the proceeds from the partial sale of its "TowerCo" business.
Under the programme, Spark may acquire ordinary shares worth up to approximately $45m.
It will run for a maximum of 12 months or until the full $350m has been returned to shareholders.
The number of shares purchased and the average price will be disclosed to the NZX and ASX.
Spark has the discretion to vary, suspend, or terminate the programme.
The new buyback programme will not operate during blackout periods for Spark's full-year and half-year results announcements.
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