Vodafone Group to Buy Back Shares After Bond Conversion
12 March 2021 - 6:45PM
Dow Jones News
By Adria Calatayud
Vodafone Group PLC said Friday that it will start a new share
buyback program as a result of a conversion into shares of bonds
issued in March 2019.
The U.K. telecommunications company will issue 1.43 billion
shares from treasury at a price of 120.55 pence ($1.69) in order to
satisfy conversion of the first tranche of the mandatory
convertible bonds, maturing on Friday. Vodafone shares closed at
131.78 pence on Thursday.
The second tranche of convertible bonds is due to mature in
March 2022, the company said.
The target number of shares to be repurchased under the buyback
program will be announced in due course, Vodafone said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 12, 2021 02:30 ET (07:30 GMT)
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