Rio Tinto has completed on off-market share buy-back of its Australian listed shares, which it said was increased to A$750m from the indicative A$700m announced due to strong demand. The buy-back price was A$63.67 per Rio Tinto Limited share, which represented a discount of 14% to the market price. The buy-back was part of a US$2.5b share buy-back programme, returning the proceeds from the sale of Coal & Allied to Rio Tinto shareholders. The portion of the programme relating to the on-market buy-back of UK-listed Rio Tinto plc shares will now total a maximum amount of US$1.925b and will commence on 27 December 2017 and completed no later than 31 December 2018.
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