November 20, 2018
Vistra Energy Corp. continues its stock buyback program by closing on the discounted repurchase of a large number of shares from an unnamed investor.
A “significant stockholder” agreed to sell 17 million shares of Vistra common stock, of which five million were sold back to the company.
Irving-based Vistra said Monday the remaining 12 million shares were sold to a broker-dealer, with all placed among institutional investors.
Vistra, Texas’ largest power producer, has a $1.25 billion stock repurchase program underway this year.
The company said it’s working to rotate its stockholder base from those who purchased just after Vistra’s October 2016 emergence from bankruptcy to a more normal set of long-term shareholders.
Vistra took over Dynegy in a $1.75 billion all-stock sale last year.