Zip Completes Nearly AU$24 Million Share Purchase, Launches AU$50 Million Buyback

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Zip (ASX:ZIP) completed the on-market purchase of 9.7 million shares on Sept. 11 at an average price of AU$2.44 each, spending AU$23.7 million to minimize dilution from equity incentive plan allocations, according to a Tuesday Australian bourse filing.

The shares will remain held in the employee share trust until they are allocated under the equity incentive plan, per the filing.

The company also began its previously announced on-market share buyback of up to AU$50 million on Monday, with the timing and volume of purchases depending on market conditions, the filing added.

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