Rightmove on buying spree– of its own shares
News Category: Industry News
Published: 21-May-2010
Rightmove has been busy buying its own shares in the past month.
The company has spent around £10m purchasing some 1.5m shares through brokers UBS.
Since April 19, the company has made 13 statements to the stock exchange detailing its share purchases.
In total, Rightmove has purchased to date 14,463,641 of its own shares since announcing a share buy-back programme in December 2007.
At the start of this year the shares were trading at around £5 and climbed steadily, reaching £7 at the time of the interim management statement on May 5. But since then, despite the bullish news, they have fallen from their peak.
At the close of yesterday’s trading, the shares were priced at £6.26 as the overall market slumped.
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