Fortescue in $500m share buy-back

Original article by Brad Thompson
The Australian Financial Review – Page: 25 : 12-Oct-18

Shares in Fortescue Metals Group closed nearly 2.5 per cent higher at $3.76 on 11 October, after the pure-play iron ore miner announced plans to repurchase $500m worth of its shares. Peter O’Connor of Shaw & Partners has welcomed the share buyback, which has coincided with the recent rise in the price of lower-grade iron. Fortescue is expected to launch the buyback following the release of its quarterly results in late October.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, SHAW AND PARTNERS LIMITED, RBC CAPITAL MARKETS, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

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