J Sainsbury plc (SBRY.L), a supermarket chain, Friday announced the start of the second tranche of its share buyback program. In this tranche, it plans to buy back shares worth up to 50 million pounds, as part of its total program of 200 million pounds that ends by March 1, 2025.
The company plans to reduce its share capital as part of the second tranche of the buyback. This tranche is scheduled to run from November 22 to February 24, 2025.
The company has signed non-discretionary instructions with UBS AG London Branch to manage the program. UBS will handle trading decisions independently, without input from the company.
Thursday, SBRY.L had closed 0.80 cents or 0.33 percent higher at $246.80 on the London Stock Exchange.
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