×

Australia's QR National plans A$1 bln share buyback

MELBOURNE, Oct 8 (Reuters) - QR National , Australia's top coal-freight company, plans to buy back A$1 billion worth of its shares, or 11.9 percent of its share base, it said on Monday after the Queensland government sold more than half its stake in the firm.

QR National offered to buy the shares back for A$3.47 a share, in line with its closing price last Friday.

(Reporting by Sonali Paul; Editing by John Mair)

((Sonali.Paul@thomsonreuters.com)(+61 3 9286 1419)(Reuters Messaging: sonali.paul.thomsonreuters.com@reuters.net))

Keywords: QRNATIONAL SHARES/BUYBACK