EssilorLuxottica will buy back up to 2.5 million shares. "EssilorLuxottica Starts Buyback of Up to $1.68 Bln," at 0519 GMT, incorrectly said the company would buy back shares for a value of up to EUR1.59 billion. EUR1.59 billion is the maximum buyback amount authorized by shareholders at the company's annual general meeting in May. EssilorLuxottica didn't specify a maximum value for the buyback program announced Friday. The correct version follows:

By Cristina Roca

EssilorLuxottica SA said Friday that it will buy back up to 2.5 million of its shares.

The French optical company said the program will run from Friday to Aug. 31 included.

"The shares so acquired are intended to be awarded or transferred to employees and corporate directors of EssilorLuxottica and affiliated companies, especially in the context of profit-sharing plans, bonus and performance share awards, stock option plans, and employee share ownership plans," it said.

EssilorLuxottica shares closed at EUR134.15 on Thursday.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

June 17, 2022 02:38 ET (06:38 GMT)

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