Thursday 5th December 2013 |
Text too small? |
Brokerage First NZ Capital has been tapped to buy up to 24.8 million Infratil shares for as much as $2.60 apiece for the investment company's on-market buyback.
Infratil's shares last traded at $2.38 and have gained 4.9 percent this year. The stock is rated a 'buy' based on six analysts polled by Reuters, with a median price target of $2.81
The company is flush with cash after teaming with the NZ Superannuation Fund to raise $840 million from the selldown of Z Energy in August, even after delaying the $64 million buyback in order to buy about 20 percent of retirement village operator Metlifecare in October.
The stand in the market will be conducted under the ticker IFTX and start at midday. At that time trading in Infratil's ordinary shares will be halted until the final price in the buyback is announced.
BusinessDesk.co.nz
No comments yet
BLT - Revenue growth with one off cost pressures impacting profit
FRW - Full Year Results to 30 June 2025 and Final Dividend
Devon Funds Morning Note - 18 August 2025
August 18th Morning Report
2025 Annual Shareholders' Meeting and Director Nominations
Meridian Energy monthly operating report for July 2025
August 15th Morning Report
VGL upgrades aspirations, accelerates to meet client demand
August 14th Morning Report
VHP - Focus on Fundamentals: Driving Operational Performance