Australian mining giant BHP Billiton has announced that the market price of its off-market tender buy-back of BHP Billiton Limited shares is AU$47.4985.
On this basis, the tender discounts are equivalent to the following tender prices (rounded to the nearest cent):
Tender discount |
Tender price |
14% |
AU$40.85 |
13% |
AU$41.32 |
12% |
AU$41.80 |
11% |
AU$42.27 |
10% |
AU$42.75 |
The results of the off-market buy-back, including the buy-back price and any scale back, are expected to be announced on Monday, April 11, 2011.
As SteelOrbis previously reported, BHP Billiton announced its off-market tender buy-back of BHP Billiton Limited shares on February 22, saying that it will form an important part of its expanded US$10 billion capital management program. The off-market buy-back targeted size is AU$5 billion.