Vector plans to sell block of 4.2 mln shares on market

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)

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

AIA - Auckland Airport new board appointment
General Capital (GEN:NZ) Subsidiary General Finance Update
January 30th Morning Report
January 29th Morning Report
VSL - Date for 1H FY26 results announcement
January 28th Morning Report
IKE - Webinar Notification IKE Q3 FY26 Performance Update
VHP - Preliminary unaudited portfolio valuations 31 December 2025
PCT - Precinct Investment Partnership to acquire ASB North Wharf
SKC - FY26 Half Year Result Teleconference Details