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Aveo launches securities buyback program

In the 12 months from Sept. 24, Aveo Group Ltd. intends to buy back up to 58,083,767 of the total 580,837,672 securities it has in issue on the Australian stock exchange.

The securities buyback program will be brokered by Morgans Corporate Ltd. and supports the developer's ongoing capital management.

The program comes on the back of a strategic review of Aveo's retirement business, as it seeks to address the lackluster performance of its securities on the market.