Vicinity Centres Limited
(ASX:VCX) has announced an on-market buy-back, of up to five percent, of Vicinity’s issued ordinary securities.
The company says it is strongly positioned to undertake the buy-back, following $1.5 billion in asset sales, since its divestment program in 2015.
The shopping centre owner says it will only purchase securities where doing so is accretive to underlying earnings.
Vicinity Centres intends to start the buy-back no earlier than 17 August 2017.
Shares in Vicinity Centres Limited
(ASX:VCX) is currently trading 3.05 per cent higher to $2.70.
