3i Group buyback now at 38% with shares lagging NAV ahead of Action update
3i Group plc has repurchased almost 40% of its £750 million buyback after shares slid in May following weaker Action sales, leaving its share discount the key number ahead of the July 23 update. 3i shares traded at 2,624p, down 0.23%, as of 16:49 London time Tuesday. The FTSE 100 closed 0.1% higher at 10,655.88. The price matters with 3i trading under reported net asset value. As of March 31, the company showed diluted NAV per share at 3,030p. It’s also paying a 48p final dividend on July 24. After adjusting for the dividend, Tuesday’s share price is 12.0% below the March NAV.