Credit Suisse: completes share buyback, starts new program
(CercleFinance.com) - Credit Suisse said that it has completed its 2019 share buyback program, and that it will commence a new share buyback program this month.
Under the 2019 share repurchase plan, which started in January 2019, the Swiss investment bank bought 79.8 million of its shares for a total of 1 billion Swiss francs (about 920 million euros) at an average purchase price per share of about 12.5 Swiss francs.
The share was trading 0.2 percent higher at 13.1 Swiss francs this morning in Zurich.
Separately, Credit Suisse will commence a new share buyback program in January, following the announcement of the program at its investor day in December.
Its board of directors approved a buyback of up to 1.5 billion Swiss francs in 2020, of which Credit Suisse expects to buy back at least 1 billion Swiss francs of shares by end-2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
Under the 2019 share repurchase plan, which started in January 2019, the Swiss investment bank bought 79.8 million of its shares for a total of 1 billion Swiss francs (about 920 million euros) at an average purchase price per share of about 12.5 Swiss francs.
The share was trading 0.2 percent higher at 13.1 Swiss francs this morning in Zurich.
Separately, Credit Suisse will commence a new share buyback program in January, following the announcement of the program at its investor day in December.
Its board of directors approved a buyback of up to 1.5 billion Swiss francs in 2020, of which Credit Suisse expects to buy back at least 1 billion Swiss francs of shares by end-2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.