Australian Foundation Investment (ASX:AFI, NZE:AFI) repurchased 400,400 fully paid ordinary shares for nearly AU$2.9 million in an on-market buyback, according to a Tuesday filing with the Australian and New Zealand bourses.
The investment company proposes to buy back nearly 124.7 million shares under the program.
The company's shares were up almost 2% in recent Tuesday trade in New Zealand.
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