(Telestock) – Stellantisas part of its buyback program of up to 3 billion euros “has signed a buyback agreement buyback of own shares for the third tranche of the program with an investment firm that makes its own trading decisions on the timing of purchases independently of Stellantis.”
The agreement, a note explains, concerns a maximum amount up to 1 billion eurosThe third tranche of the Programme will start today, 1 August 2024 and will end no later than 29 November 2024.
Stellantis has stressed that it intends to cancel the ordinary shares acquired through the €3 billion Share Buyback Program with the exception of a portion of up to €0.5 billion, which will be used for future employee stock ownership plans and share-based compensation plans.
As of today, the residual portion of the authorization is equal to approximately 246 million shares and the Company holds 81,500,174 ordinary shares equal to 2.10% of the total issued share capital.
Meanwhile, at Piazza Affari, Stellantis takes a step back from the previous closing price, settling at 15.35 euros, with a decrease of 0.32%.