Kering Launches Buyback Program for Up to 2% of Shares
25 August 2021 - 5:40PM
Dow Jones News
By Olivia Bugault
Kering said Wednesday that it is launching a buyback program to
repurchase up to 2% of its shares over two years.
Under the buyback agreement that the French luxury-goods group
has signed with an investment service provider, a first tranche
will cover up to roughly 0.5% of its outstanding shares, or a
maximum of 650,000 shares, it said.
For this first tranche, Kering won't spend more than 650 million
euros ($764.3 million), which represents a maximum price of EUR1000
per share, it said. The purchase period starts today and will run
for three months, the company said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
August 25, 2021 03:25 ET (07:25 GMT)
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