Technip Energies NV (THNPF) on Monday announced the launch of a share buyback program of up to 45 million euros. The program allows for the acquisition of up to 1.5 million shares and will run until December 31 this year.
The price will be subject to a maximum amount equal to the greater of 1) the price of the last independent trade and 2) the highest current independent purchase bid on the regulated market of Euronext Paris, the company said in a statement.
The French engineering and technology company said that the share repurchase was initiated to fulfil the obligations under equity compensation plans.
Technip Energies said that as of April 30, it has 1.69 million treasury shares, representing 0.95 percent of its issued share capital, which is kept aside for equity compensation plan obligations.
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