Australia's first lenders mortgage insurance (LMI) provider Helia Group (ASX:HLI) has unveiled plans to commence a further on-market share buy-back for shares up to a maximum aggregate value of $100 million.
Based on Helia’s closing share price of $3.70 on 9 May 2024, the buy-back would represent a reduction of 9.3% of the company’s issued share capital or around 27.0 million ordinary shares. The total number of shares to be purchased by Helia under the buy-back will depend on business and market conditions, the prevailing share price, market volumes and other considerations.
Helia said it will not buy back more than 60,000,000 of its ordinary shares without seeking further shareholder approval.
Barrenjoey Markets Pty Limited has been appointed as the company’s transaction broker in relation to the on-market share buy-back.
