• Home
  • News
  • Business
  • Kering launches stock repurchase programme

Kering launches stock repurchase programme

By Huw Hughes

loading...

Scroll down to read more

Global luxury group Kering has announced plans to repurchase up to one percent of its share capital over a 12-month period.

The group has signed a share buyback agreement with an investment service provider in which a first tranche covering a maximum volume of 631,000 shares - approximately 0.5 percent of Kering’s outstanding share capital - could be repurchased.

Kering said in a statement that the total buyback amount would not exceed 300 million euros and the price per share would not exceed 480 euros - the maximum price set by the meeting of shareholders on 26 April, 2018 in its 10th resolution.

The agreement’s purchase period will commence on 29 October, 2018, and has a maximum duration of four months.

Kering