Tower (NZE:TWR, ASX:TWR) bought back 38.1 million ordinary shares in the company for NZ$1.1858 each, according to a Friday filing with the New Zealand and Australian bourses.
The shares were acquired as part of the insurer's capital return.
As a result, 1 ordinary share for every 10 ordinary shares held on March 19 was canceled, per the filing.
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