IBEX Buys Back Shares From Resource Group International for $70 Million

MT Newswires Live11-20

IBEX (IBEX) said Tuesday it has repurchased 3.56 million unregistered common shares from Resource Group International for $70 million.

The purchase price was $19.65 per share, which was the last closing price, as well as the five-day volume weighted average price, on Nasdaq, the company said.

The total transaction price of $70 million consisted of $45 million in cash and $25 million in seller financing, IBEX said.

Resource Group International owns 1.8 million shares in IBEX following the deal but is no longer a controlling shareholder, the company said.

IBEX shares were more than 2% higher in recent trading.

Price: 20.05, Change: +0.40, Percent Change: +2.04

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