Platinum Asia Investments Limited announces an Equity Buyback for 36,552,294 shares, representing 10% of its issued share capital.
April 08, 2021 at 09:30 am IST
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Platinum Asia Investments Limited (ASX:PAI) authorized a share repurchase program on April 08, 2021. Under the program, the company will repurchase up to 36,552,294 shares, representing 10% of its issued share capital. The purpose of the share repurchases is capital management. The program will be funded from the company’s available cash resources. As of April 08, 2021, the company has 365,522,941 shares in issue. The program will commence on April 23, 2021 and it will be valid for 12 months, until April 22, 2022.
Credit Suisse Equities (Australia) Limited acted as broker to the company.
Platinum Asia Investments Limited is an Australia-based investment company. The Company's investment objective is to provide capital growth over the long term through investing primarily in undervalued listed securities of companies in the Asian region (ex-Japan) across sectors. It offers investors an easy and convenient means of accessing an actively managed, diversified portfolio of Asian (ex-Japan) companies across industry sectors, providing exposure to undervalued businesses that are benefiting from Asiaâs dynamic growth and transformation. It aims to achieve net returns over a five-year plus investment horizon that are in excess of the benchmark (MSCI All Country Asia ex Japan Net Index (A$)) returns. It invests in sectors that include consumer discretionary, industrials, information technology, real estate, financials, materials, consumer staples, communication services, health care, energy and others. The Companyâs investment manager is Platinum Investment Management Limited.
PLATINUM ASIA INVESTMENTS LIMITED 
