Plus   Neg

Lanxess Plans To Start Share Buy-back Program On March 12

Specialty chemicals company Lanxess AG (LNXSF.PK) expects to start the first tranche of share buy-back on March 12, 2020 and shall be completed within the next 12 months.

In May 2019, the company was authorized to buy back up to 500 million euros via the stock exchange in the next 24 months, but not more than 10 percent of the share capital of the company.

On the basis of the current share price of 40.30 euros per share, on March 9, 2020, the company could buy back about 8.74 million own shares, or 10 percent of the share capital, for an aggregate consideration of about 352 million euros.

The company noted that it will split share buy-back into two tranches of 250 million euros each.

The company expects to start the first tranche of share buy-back on March 12, and take a decision on the second tranche of the buy-back program after completing the first tranche.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The New York Times announced its plans to relocate its Hong Kong-based digital news operation to South Korea's Seoul, amid uncertainty following China's tough national security law for the semi-autonomous city. The news organization cited the possible impact of Beijing's new security law to the city's prospects as a hub for journalism in Asia. Search giant Google, Inc. announced Wednesday that it signed an agreement to invest $4.5 billion or 33,737 crore Indian rupees in India's Jio Platforms Ltd, taking a 7.73 percent stake in the company, pending regulatory review in India. This investment by Google values Jio Platforms at an equity value... U.S. Bancorp (USB) reported second quarter earnings per share of $0.41, compared to $1.09, a year ago. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.22, for the quarter. Analysts' estimates typically exclude special items. Net income attributable...
Follow RTT