Kingfisher Completes First Tranche of Share Buyback
Why we think this is neutral
The RNS announcement is about the completion of the first tranche of a share repurchase programme, which is a routine corporate action and does not provide any significant new information about the company's trading or financial performance.
Key Points
- Completion of first tranche of £300m share repurchase programme
- 17,932,871 shares purchased for £50m consideration
- Further details on second tranche to be announced later
Summary
The retailer has completed the first tranche of its £300m share buyback programme, purchasing 17.9 million shares for £50m.
Kingfisher plc has announced the completion of the first tranche of its £300m share repurchase programme. Goldman Sachs International, acting on Kingfisher's behalf, purchased 17,932,871 shares for a total consideration of £50m. Further details on the second tranche of the share repurchase programme will be announced in due course.
GENERAL UPDATE