Metlen Energy & Metals S.A. (MTLN.L,MTLN.AT) announced on Tuesday that it has launched a share buyback programme worth up to 600 million euros that will run until June 2031.
The Greek energy and metals company, with holding company in UK, said it would purchase up to 14.3 million ordinary shares under shareholder authority granted at its annual meeting on May 21.
The purchases will be carried out in tranches and are subject to renewal of shareholder approval at future annual meetings.
Metlen has appointed Citigroup Global Markets and Piraeus Securities to conduct the buybacks on the London Stock Exchange and Euronext Athens, respectively.
On the Athens Stock Exchange, shares of Metlen closed Monday's trading 1.11 percent higher at 42.08 euros.
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