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- Waypoint REIT (WPR) launches another $50 million on market share buyback scheme, as the company aims to recoup 18 million WPR shares
- The fuel and convenience store REIT ran a $75 million buyback scheme earlier this year as a part of a wider capital management program
- This latest scheme will open from December 1 and Waypoints says there’s not set price for the shares under the buyback
- The $50 million buyback will run for a total of 12 months and is funded from WPR’s existing debt facilities
- Shares in Waypoint REIT opened Wednesday trading at $2.55 each
Waypoint REIT (WPR) has launched another $50 million on market share buyback scheme.
Under this latest share buyback, the fuel and convenience stores investment trust will aim to recoup up to 18 million of its own shares over a 12 month period.
The buyback scheme will open on Wednesday, December 1 and Waypoint won’t offer a set price for its securities.
Instead, the REIT said it would go by market price and conditions on any given day, with the entire buyback set to be funded using its existing debt facilities.
Previously, the real estate stock launched a similar $75 million share buyback scheme in July of this year.
Waypoint managed to buyback a total of 7.1 million securities, for $19.5 million, under this original offer.
Both of the shares buyback schemes launched by Waypoint this year are part of the company’s wider capital management program.
It was under this program, WPR sold 31 of its non-core assets in August this year and announced a $150 million capital return.
Waypoint REIT share opened Wednesday’s trading session at $2.55 per share.
