Industry News Archive
Life Partners to buyback $1M shares
Yesterday the board of directors for Life Partners Holdings, Inc. (LPHI) authorized the buyback of as much as one million shares of its own stock.
The company is one of only two public companies including Life-Exchange, Inc. (LFXG) that specialize solely in the growing life settlement market, a market that has garnered much attention as a safe haven from the subprime mess and the looming downturn in the US economy.
Life Partners said that there is no time limit set for the buyback and that any purchases will depend on market conditions.
As of November 30, 2007 the company had 12 million shares outstanding. The stock is currently trading at $20.40.
