1st Jun 2023 11:10
(Alliance News) - BAE Systems PLC on Thursday launched the third tranche of a share buyback programme it first announced in July last year.
The whole programme is worth up to GBP1.5 billion, consisting of three tranches of GBP500 million each. The first tranche was completed in November last year, the second was completed in mid-May this year.
The London-based defence contractor said Morgan Stanley & Co International PLC will carry out the third GBP500 million tranche, running from Thursday until July 2024.
BAE Systems shares were 1.0% higher at 937.40 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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