Australia's HealthCo Healthcare rises on unit buy-back plans

Healthco Healthcare and Wellness Reit

23/04/2024 01:36

** Shares of HealthCo Healthcare  HCW.AX  advance as much as
8% to A$1.215, set to see their best day since Nov 15, 2022 - if
gains hold  
    ** The real estate investment trust says it will conduct an
on-market unit buy-back for up to A$50 million ($32.26 million) 
    ** Says buy-back is expected to be accretive to co's funds
from operations (FFO), co says  
    ** Adds buy-back will be funded by existing cash, undrawn
facilities and asset sales 
    ** Shares hit highest since April 11 
    ** Stock has fallen ~23.5% this year as of last close


($1 = 1.5501 Australian dollars)

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))