Philips Lighting: starts share buyback program
(CercleFinance.com) - Dutch-based Philips Lighting said on Wednesday that it is starting a 38 million euro share buyback program.
Starting today and expected to be completed in the second quarter, the program will repurchase up to 1.5 million shares, or approximately 1.1% of total share capital, the lighting group said.
Philips Lighting will hold the repurchased shares in treasury to cover employee share awards plans, it said.
The Amsterdam-listed shares were up 4.2 percent on the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Starting today and expected to be completed in the second quarter, the program will repurchase up to 1.5 million shares, or approximately 1.1% of total share capital, the lighting group said.
Philips Lighting will hold the repurchased shares in treasury to cover employee share awards plans, it said.
The Amsterdam-listed shares were up 4.2 percent on the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.