Vistry Group has started a buyback programme to repurchase up to £130m of shares.
It will buy ordinary shares at 50p each. The programme is formed of an ordinary buyback of £55m and a special buyback of £75m, as announced on 5 September with its half-year results.
It is expected to commence today (12 September) and be completed no later than the annual general meeting on 14 May 2025.
Vistry has formed a discretionary arrangement with Numis Securities in relation to the purchase by Deutsche Numis, acting as principal.
Deutsche Numis will conduct the first tranche of the programme, which will be for £43.3m.
In its half-year results for H1 2024 earlier this month, the housebuilder reported a a rise in profit, revenue and completions.
It completed 7,702 homes in the six months to the end of June, up 9% from the 7,143 built over the same period in 2023. Revenue rose by 11% to £1.97bn, up from £1.77bn.
Profit before tax period rose by 7% from £174m in H1 2023 to £186m.
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