Syensqo: first tranche of share buybacks completed

(CercleFinance.com) - Belgian chemicals group Syensqo announced last night that it had completed the first tranche of its E300m share buyback program.


Launched on 5 November and closing on 27 November 2024, the operation resulted in the acquisition of a total of 658,488 shares, representing around 0.6% of outstanding shares.488 shares, representing around 0.6% of outstanding shares.

In this first tranche, Syensqo claims to have invested some E50m, based on an average purchase price of E75.93 per share.

The repurchased shares, which are currently held in treasury, are due to be cancelled in December.

Syensqo says it plans to unveil 'in due course' details concerning the launch of the second tranche of the program.

On the Brussels Stock Exchange, investors frowned somewhat: its shares dropped 0.6% on Friday morning in the wake of this announcement, posting the third worst performance of the BEL 20 index.


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