Tesco PLC (TSCDY,TSCO.L), a groceries and general merchandise retailer, on Wednesday, announced the commencement of a share buyback programme of up to 750 million pounds to be completed by April 2027.
The company said the initial tranche of the programme will be for an aggregate market value of up to 250 million pounds, with any further tranches to be announced in due course.
The company said the programme is aimed at reducing its share capital.
The company has entered into an arrangement with Citigroup Global Markets Ltd. to repurchase shares on its behalf on the London Stock Exchange and Cboe Europe.
On Tuesday, Tesco closed trading 1.32% lesser at GBp 487.55 on the London Stock Exchange.
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