Ferrari: completes first tranche of shares buyback

(CercleFinance.com) - Ferrari has completed the buyback of around 3% of its shares on the market, the Italian sportscar maker said in a statement on Monday.


The company said it has spent 99.5 million euros buying 869,357 common shares on Milan's stock market and 56.3 million dollars buying 375,203 shares on the NYSE.

Ferrari said the buyback, which started on 28 December 2018, was completed on 27 June.

The Maranello-based carmaker also said that it would complete a second tranche of share buybacks, worth 200 million euros, by the end of the year.

Its shares were up 0.7% in Milan.

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