Signify: starts share buyback program today

(CercleFinance.com) - Dutch lighting maker Signify said on Monday that it is starting a share buyback program for up to 230 million euros to reduce the company's capital.


The share buyback was announced last week, when the Eindhoven-based group unveiled its second-quarter results, and is expected to be completed by the end of 2018.

At the current share price, the repurchase program represents a total of approximately 9.9 million shares or 7.2% of the company's issued share capital. Signify intends to cancel these shares.

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