EssilorLuxottica initiates share buyback program

EssilorLuxottica SA (ESLOY.PK, ESLOF.PK, EL.PA, ESL.DE), an Italian manufacturer of optical lenses, Friday said that it has launched a share buyback program.

The company said that as per the share buyback program, it has mandated an investment services provider to purchase up to 5 million EssilorLuxottica shares. This move, the company said, is subject to market conditions.

The share purchases will begin on Friday and will be carried out in accordance with the 19th resolution approved by the Annual General Meeting on April 28 this year.

On the Paris Exchange, EL.PA is currently trading at 162.75 euros, up 5.20 euros or 3.3 percent.