Infratil, the listed infrastructure investor, will continue with a buyback worth about $64 million after putting the plan on ice last month while it mulled another transaction.
Infratil plans to buy as many as 24.8 million of its own shares at a maximum price of $2.60 per share through a tender process open to all shareholders on December 5, the Wellington-based company said.
The company is undertaking the buyback in an attempt to lift the value of its shares. Infratil delayed the buyback while it investigated taking a stake in retirement village operator and developer Metlifecare.
