Wednesday 8th November 2017 |
Text too small? |
Vector is planning to sell 4.2 million of its own shares it currently holds as treasury stock beginning Nov. 9 as part of ongoing capital management.
The proceeds of the sale will be initially applied to debt reduction "but will be redeployed into new investment opportunities as they arise," it said in a statement. Vector has engaged Forsyth Barr to assist with the sale.
In its latest annual result, the company said gearing was at 47.1 percent as at June 30 versus 43.7 percent a year earlier and 43.9 percent as at Dec. 31, 2016.
Vector shares last traded up 0.3 percent at $3.42 and have gained 5.25 percent so far this year.
(BusinessDesk)
No comments yet
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained