Australia's Lendlease jumps on $323 mln share buyback

Lendlease

15/11/2024 02:49

Nov 14 (Reuters) - ** Shares of Australian developer
Lendlease  LLC.AX  rise as much as 5.6% to A$7.01, set to gain
most since Oct. 18 if gains hold
    ** Co will launch A$500 mln($323.00 mln) share buyback in
the near-term provided it could sell certain assets
    ** Co announced plans in May to retreat from overseas
construction businesses and free up to A$4.5 billion in capital 
    ** Stock posts biggest intraday pct gain since late August
    ** 2 of 6 analysts rate the stock "buy" or higher, 2 "hold"
and 2 "sell" or lower; their median PT is A$2.8 – LSEG data
    ** Stock has fallen 11.1% this year, as of last close

($1 = 1.5480 Australian dollars)

 (Reporting by Nichiket Sunil)
 ((Nichiket.Sunil@thomsonreuters.com;))