CIMIC Group Limited (ASX: CIM), an engineering-led construction company, has announced a further on-market share buyback of up to 10% of CIMIC’s fully paid ordinary shares. The company’s current on-market share buy-back will end on 28 December 2019.
- The new share buyback will be funded by a combination of working capital facilities and cash balances;
- The number of shares purchased, and timing will depend on the company’s share price and market conditions;
- The new share buyback aims to enhance shareholders return and capital efficiency.
At AEST 1:00PM, the stock was trading at $33.71 per share, up by 0.74% from its previous close.
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