17 Sep 2011

Sky City shares up after buy-back announcement

6:30 pm on 17 September 2011

Shares in Sky City Entertainment surged more than 3% after the company announced it will buy back shares.

The casino operator plans to buy back three million of its 577 million shares on the market before 5 October.

It will hold them as treasury stock and to meet its obligations to shareholders in its dividend reinvestment plan.

Shares in the company have risen 11 cents to $3.52 on Friday.