May 25 (Reuters) - Ansell Ltd ANN.AX
* Has executed a binding agreement for sale of its sexual wellness business for us$600m
* also announces a new on market share buy-back program for up to 10% of company's issued capital.
* net after-tax cash proceeds to Ansell are expected to be approximately us$529m.
* expects to realize a net profit after tax in order of us$365m, which is expected to be recorded in fy'18
* sale of sexual wellness business to humanwell healthcare (group) and CITIC Capital China Partners III, L.P.
* Will buy back up to 10% of issued capital or approximately 14.75m shares over next 12 months
* Based on wednesday's closing share price of A$24.14, this would imply a buy-back of approximately us$265m Source text for Eikon: ID:nASX7Wg8dH Further company coverage: ANN.AX