Meridian Energy Limited (Meridian) announced on 10 November 2022 that it would undertake an on-market share buyback in connection with the FY23 long-term incentive scheme. Meridian has now completed that share buyback. Meridian acquired 489,925 ordinary shares on the NZX Main Board at an average price of NZ$4.6418 per share.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
Forsyth Barr says a premium valuation is now warranted.
The only worst performer is the Norwegian krone.
To join your company account for BusinessDesk and enjoy full access, enter your email and we’ll send you details