Old Mutual Ltd - Anglo-South African financial services firm - Completes its share buyback designed with to unlock long-term incremental value for shareholders. As at October 16, the company repurchased 122.9 million shares to the tune of ZAR1.5 billion. These shares amount to 3.5% of the total shares in issue. Shares in issue are 4.8 billion. The share repurchase programme was launched in May.
Current stock price in London: 51.30 pence, up 0.2% on Thursday
12-month change: down 17%
Current stock price in Johannesburg: ZAR11.83, down 0.9%
12-month change: up 16%
By Artwell Dlamini, Alliance News reporter
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Old Mutual Lim. (OMU)