Meridian Energy (ASX:MEZ, NZE:MEL) plans to start the buy-back of a maximum of 500,000 shares, effective Dec. 5 until Dec. 31, according to a Monday filing with the Australian and New Zealand bourses.

The repurchased shares will be held as treasury stock, the filing said.

Shares of the company fell past 2% in recent Monday trade in Australia and fell nearly 1% in New Zealand.