Orica announces $400m share buyback

Orica has announced a $400 million share buyback after completing the $750 million sale of its chemicals business.

Orica has announced a $400m share buyback after completing the sale of its chemicals business. (AAP)

Mining services group Orica will buy back more than $400 million of its own shares after completing the sale of its chemicals division.

Orica will buy back $400 million worth of shares over the next 12 months to reduce the number on issue and to improve returns to investors.

The move comes after the company completed the $750 million sale of its chemicals division.