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Tower Limited ( (AU:TWR) ) has issued an announcement.
Tower Limited has announced a capital change involving the redemption of 38,060,062 ordinary shares as part of a return of capital scheme approved by the High Court and shareholders. This move, effective March 20, 2025, will result in the cancellation of one ordinary share for every ten held, impacting 10% of the total class of financial products. The redemption is part of a strategic financial restructuring aimed at optimizing the company’s capital structure, with implications for shareholder value and market positioning.
More about Tower Limited
Tower Limited operates in the financial services industry, primarily focusing on providing insurance products. The company is known for its ordinary shares and has a market presence in New Zealand and Australia.
YTD Price Performance: 24.87%
Average Trading Volume: 40,621
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$456.5M
For detailed information about TWR stock, go to TipRanks’ Stock Analysis page.