Rio Tinto completes two thirds of buyback
Rio Tinto has completed a A$2.87bn (US$2.1bn, £1.6bn) off-market share buyback to cancel 2.41% of the group's issued shares.
FTSE 100
8,147.03
16:54 29/04/24
n/a
n/a
FTSE 350
4,481.53
16:44 29/04/24
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FTSE All-Share
4,435.18
16:59 29/04/24
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Mining
10,673.75
16:44 29/04/24
1.78%
186.89
Rio Tinto
5,457.00p
16:40 29/04/24
0.07%
4.00p
The FTSE 100 group announced in September that is would carry out a US$3.2bn share buyback to return the proceeds from the sale of its coal assets.
The off-market buyback of 41.2m shares was completed at a 14% discounted price of A$69.69 per share.
All shares purchased will be cancelled, the company said.