Region Group (ASX:RGN)said it intends to undertake an on-market buyback for up to AU$100 million of its fully paid ordinary shares on issue, according to a Thursday Australian bourse filing.
The company said it will be using proceeds from the recently exchanged AU$76 million disposal of a retail shopping centre as well as existing cash and undrawn debt facilities for the buyback.
Repurchases will start no earlier than April 22, with the timing and number of securities to depend on the prevailing security price and market conditions, the filing added.
The company's shares rose nearly 3% in recent Thursday trade.
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