14
Sep
15:44
Arch continues share buy-back program
US coal producer Arch Coal plans to buy back 750,000 of its shares from Monarch Alternative Capital for about $55.7 million, Kallanish reports.
The share plan is part of a larger comprehensive buy-back program totalling around $300m. Following this most recent buy, which is expected to close 19 September, Monarch will own about 2.6m shares of Arch.
Arch’s total amount of outstanding shares is about 24.58m, with the majority held by Monarch.
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Anonymous
Very good overview of the weekly steel market.
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