# Ferrari to Commence a €150-M 1st Tranche of the New Multi-year Share Buyback Program of €2-B

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Last modified: 2022-07-04

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By Paul Ebeling · 2022-07-04
Tags: Shayne Heffernan on Investments, Stocks, Luxury, Ferrari, Lifestyle, Paul Ebeling, share, buyback, Formula One, Ferrari, Education, Sports, Knightsbridge Insights, Living, Business, Market, Money, Stock
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#Ferrari #share #buyback

$RACE

- 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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