STMicroelectronics Completes Share Buy-back Program
07 August 2017 - 3:46PM
Geneva - August 7, 2017 - STMicroelectronics (NYSE: STM),
a global semiconductor leader serving customers across the spectrum
of electronics applications, announced that it has completed the
repurchase of approximately 18.6 million shares of its common
stock for an amount of $297 million under its share buy-back
program announced on June 22, 2017.
The shares were repurchased between June 30, 2017 and August 4,
2017 on the Mercato Telematico Azionario and other venues in open
market transactions for a total of $297 million. The repurchased
shares will be held as treasury shares and used to meet obligations
arising from debt financial instruments that are exchangeable into
equity instruments and to meet obligations arising from share award
programmes.
Following the completion of such share buy-back programme,
STMicroelectronics holds in total 40,742,409 treasury shares, which
represent approximately 4.5% of the issued share capital of
STMicroelectronics.
Details of the share repurchases pursuant to the now completed
buy-back program are available on ST's website at the following
address: http://investors.st.com.
About STMicroelectronics
ST is a global semiconductor leader delivering intelligent and
energy-efficient products and solutions that power the electronics
at the heart of everyday life. ST's products are found everywhere
today, and together with our customers, we are enabling smarter
driving and smarter factories, cities and homes, along with the
next generation of mobile and Internet of Things devices.
By getting more from technology to get more from life, ST stands
for life.augmented.
In 2016, the Company's net revenues were $6.97 billion, serving
more than 100,000 customers worldwide. Further information can be
found at www.st.com.
For further information, please contact: INVESTOR
RELATIONS: Tait
Sorensen
Group VP, Investor Relations Tel: +1 602 485 2064
tait.sorensen@st.com
MEDIA RELATIONS:Alexis
Breton
Director, PR & Media Operations
STMicroelectronics Tel: + 33 6 59 16 79 08
alexis.breton@st.com
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/7bf86ba8-bb3b-4cc7-8c4c-cc0ca7ac8622
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