Ferrari to Commence a €150-M 1st Tranche of the New Multi-year Share Buyback Program of €2-B
#Ferrari #share #buyback
Ferrari N.V. (NYSE:RACE) intends to commence a €150-M share buyback program, as the initial tranche of the new multi-year share buyback program of approximately €2-B expected to be executed by Y 2026.
The 1st tranche started on July 1, 2022 and will end no later than November 30, 2022. It will be funded through the company’s available cash.
Repurchased shares may be used to meet the obligations arising from the company’s equity incentive plan.
An amount equivalent to €120-M to be executed on the EXM market through a primary financial institution and €30-M to be executed on the NYSE.
The company currently holds No. 11,065,110 common shares in treasury.
The 1st tranche replaces any previous common shares buyback program.
Have a prosperous week, Keep the Faith!
#Ferrari, #share, #buyback,
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