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Rio Tinto successfully completes A$2,871 million off-market buy-back

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idpickering
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Rio Tinto successfully completes A$2,871 million off-market buy-back

#179605

Postby idpickering » November 12th, 2018, 7:11 am

Rio Tinto has successfully completed its off-market buy-back, achieving its share purchase target of approximately 41.2 million Rio Tinto Limited shares, for a total consideration of A$2,871 million (US$2,081 million1). The Buy-Back Price was A$69.69 per Share which represented a discount of 14 per cent to the Market Price2.

The Buy-Back was announced on 20 September 2018 as part of a US$3.2 billion share buy-back programme (the "Programme"), returning the post-tax proceeds from the sale of coal assets in 2018 to Rio Tinto shareholders.


https://www.investegate.co.uk/rio-tinto ... 00030171H/

And as a bonus for those interested;

Rio Tinto UBS Australasia conference - presentation

https://www.investegate.co.uk/rio-tinto ... 00039829G/

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Re: Rio Tinto successfully completes A$2,871 million off-market buy-back

#179609

Postby YeeWo » November 12th, 2018, 7:52 am

I took some Inchcape off the table last month, invested ab initio in Rio based on Yield and Low Debt. Presumably the initiatives above are priced-in?


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