IHG shares up as investors look at buyback and share count math
InterContinental Hotels Group PLC ended Tuesday’s session up 0.94% at $166.20, with 326,459 shares changing hands by the close in London. That move outpaced the FTSE 100, which added 0.13%. ADVFN showed a session range of $163.65 to $166.90, with the last trade coming at 16:35:18. IHG’s buyback price stood out for shareholders. In a Tuesday RNS, the company said it bought 40,000 shares Monday between $164.10 and $167.85, with an average price of $165.4551. IHG will cancel the shares, cutting its shares in issue to 148,815,326, not counting treasury stock.