Assicurazioni Generali S.p.A. (ARZGY.PK), an Italian insurance major, on Tuesday said that it will start to buy back up to 11 million and 300 thousand treasury shares from May 22 to August.
Generali has signed a deal with Citigroup Global Markets Europe AG to proceed with the repurchase.
The minimum purchase price of the shares may not be lower than the implicit par value of the share, whereas the maximum purchase price may not exceed 5 percent of the reference price, the company said.
In any case for a total maximum counter value of should not be over 300 million euros, the Group said in statement.
As of now, Generali and its subsidiaries hold 17,059,872 treasury shares, representing 1.09 percent of the share capital.
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