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SYDNEY - Fosters Group Ltd has completed a A$250 ($294) million off-market share buy-back.
The company told the stock exchange this morning it had completed the buyback at A$5.82 per share, representing a 14 per cent discount to the market price of A$6.7731, the volume weighted average price of Fosters ordinary shares over the five trading days up to and including October 12.
Fosters says it bought 43.0 million shares, or 2.2 per cent of its issued capital.
"This is an excellent result for Fosters shareholders," said Fosters Chief Executive Officer, Trevor O'Hoy.
For shareholders who successfully tendered their shares, A$3.99 of the buy-back price is fully franked
- AAP
