STMicro: launches share repurchase program

(CercleFinance.com) - STMicroelectronics has announced its launch of a share buyback program for up to 750 million dollars over a three-year period (subject to its shareholders' approval at a meeting and any other authorisations).


The company intends to keep the shares redeemed as treasury stock in order to meet its obligations regarding the allocation of shares plans to employees. At the last closing price on the NYSE, it could acquire a maximum of approximately 47 million shares.

The schedule, number and value of the shares redeemed under the program will depend on a number of factors, including market conditions, the general state of business and the applicable legal obligations.

Copyright (c) 2018 CercleFinance.com. All rights reserved.