By Ed Frankl 
 

Exor NV said Tuesday that it would launch a 500 million-euro ($542.8 million) share-buyback program.

The Italian holding company said it will start by repurchasing up to EUR100 million as the first tranche of the program.

Shares will be repurchased at a price not higher than 10% above the reference price recorded on the day before the transaction is made, it said.

The program is expected to be completed by 2024, with repurchased shares to be canceled, Exor added.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

March 08, 2022 07:19 ET (12:19 GMT)

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