BlueScope buys back on-market shares

BlueScope buys back on-market shares

Australian BlueScope Steel announced the resumption of its on-market share buy-back program following the completion of A$200 million ($155.55 million) off-market share buy-back. The number of shares the company bought back off-market is 25.9 million. The company had previously bought back 9.5 million shares on-market. The company's initial on-market plan was intending to buy back 18.4 million shares but the company stated that they would increase the number to 35 million shares before ending the program. BlueScope also noted that the actual shares to be purchased under the on-market program would depend on the market conditions and its balance sheet.