Platinum Asia Investments Limited announces an Equity Buyback for 36,985,578 shares, representing 10% of its issued share capital.
April 06, 2023 at 12:00 am EDT
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Platinum Asia Investments Limited (ASX:PAI) announces a share repurchase program. Under the program, the company will repurchase up to 36,985,578 shares, representing 10% of its issued share capital. The purpose of the share repurchases is capital management. The program will be funded from the company’s exisiting cashflow. The program will commence on April 26, 2023, and it will be valid for 12 months, until April 24, 2024. As of April 6, 2022, the company has 369,855,784 shares in issue.
JP Morgan Securities Australia Limited acted as broker to the company.
Platinum Asia Investments Limited is an Australia-based closed-ended investment company. The Company's investment objective is to provide capital growth over the long-term through investing primarily in undervalued listed securities of companies in the Asian region (ex-Japan) across sectors. It offers investors an easy and convenient means of accessing an actively managed, diversified portfolio of Asian (ex-Japan) companies across industry sectors, providing exposure to undervalued businesses that are benefiting from Asiaâs dynamic growth and transformation. aims to achieve net returns over a five year plus investment horizon that are in excess of the benchmark (MSCI All Country Asia ex Japan Net Index (A$)) returns. It invests in sectors that include consumer discretionary, industrials, information technology, real estate, financials, materials, consumer staples, communication services, health care and energy. Its investment manager is Platinum Investment Management Limited.
PLATINUM ASIA INVESTMENTS LIMITED 