Electra Private Equity to launch £200m share buyback

8th Nov 2016 08:11

(ShareCast News) - Electra Private Equity said on Tuesday that it plans to return up to £200m to shareholders by a way of a tender offer.The company said the return of excess cash to shareholders should reduce the negative impact of holding this cash on growth in net asset value per ordinary share.The tender offer will be effected by Morgan Stanley and Electra is proposing that 4.65m ordinary shares - or around 11.55% of the issued share capital - should be purchased.At 0830 GMT, Electra shares were up 1.5% to 4,483.76p.