Ormat Industries approving Ormat Technologies’ US$50m stock buy-back
Steamboat Springs plant of Ormat, Nevada (source: Commons/ Wikimedia)
Alexander Richter
10 May 2010
Ormat Industries approves buy-back of US$50 million worth of stock by Ormat Technologies.
Reported from the U.S., “Ormat Technologies Inc. said Monday its parent company, Ormat Industries, has approved the repurchase of up to $50 million in stock.
Ormat designs, builds and runs geothermal power plants. It said the shares will be bought on the open market or through privately negotiated transactions.
The company currently has about 45.4 million shares outstanding. At current prices, the $50 million authorization would buy back about 1.7 million shares.
Ormat Technologies shares rose $1.54, or 5.5 percent, to $29.46 in midday trading.”
Source: Bloomberg BusinessWeek
