Casinos operator Crown Resorts will raise $500 million by buying 42.9 million of its ordinary shares, or 5.89 per cent of its issued capital, at Friday's closing price of $11.65 a share.
The on-market share buyback was announced on February 23, at which time the company said it would not proceed with a partial float of some of its Australian hotels and associated properties.
Crown also intends to buy back $530 million of subordinated notes listed on the Australian share market.
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