(Finance) – STMicroelectronicsa global leader in semiconductors with customers in all electronics application sectors, announces the completion of three-year share buyback programs from $ 1,040 million starting in 2021 and the launch of a new share buyback plan comprising two programs, for a maximum value of $1,100 million, to be executed within a period of 3 years, to be executed within a period of 3 years (subject from time to time to shareholder approval and other appropriate approvals).
The closing price of the Company’s shares recorded on the New York Stock Exchange on June 18, 2024 was equal to $43.08 and, at this price, the maximum number of shares that could be purchased for a value of 1,100 million.
Through the Completed Repurchase Programmes, the Company repurchased a total of 24,880,267 shares, at the weighted average price of 38.67 euros per share, for a total of 962,050,015 euros, equivalent to 1,040 million dollars.
The share capital of the Company consists of 911,281,920 issued shares and, as of 17 June 2024, the Company holds approximately 7,874,440 treasury shares, equal to approximately 0.9% of its issued capital.
The minimum price paid for new buybacks will be 1.04 euros per share, a maximum equal to 110% of the average of the highest price per ordinary share in each of the five open market days prior to the purchase date, on each of regulated markets Euronext Paris, Borsa Italiana and Nyse and a maximum equal to the greater between the price of the last independent transaction and the highest independent purchase offer at the time on the trading venue where the purchase is made.