$GQG Partners Inc (GQG.AU)$ scrapped their plan to buy back up to A$100 million in CHESS Depositary Instruments for common stock (CDIs) due to uncertainties regarding the U.S. tax treatment of the buyback, according to a filing with the Australian stock exchange on Monday.
The company indicated that it might need to retain as much as 30% of the funds from shareholders who sell their shares in the buyback due to U.S. tax regulations.
Source: MT Newswires