7th Apr 2015 06:08
LONDON (Alliance News) - Rio Tinto PLC on Tuesday said it has completed the off-market buy-back tender of Rio Tinto Ltd shares, increasing the total buyback to AUD560 million due to strong demand.
The FTSE 100-listed Anglo-Australian miner said the buyback, which was increased to AUD560 million from AUD500 million, was made at AUD48.44 per share, a 14% discount to the market price for Rio Tinto Ltd shares based on the volume-weighted average price in the five days of trading up to and including last Thursday.
Rio Tinto Ltd bought back a total of 11.6 million shares.
The on-market buy-back of Rio Tinto PLC shares, due to continue until the end of the year, will total approximately USD1.58 billion, the company said. So far, it has repurchased a total of USD189 million worth of shares.
By Sam Unsted; [email protected]; @SamUAtAlliance
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