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IN BRIEF: AB Foods launches first tranche of GBP500 million buyback

9th Nov 2023 10:33

Associated British Foods PLC - London-based food manufacturer, and fast fashion retailer through Primark - Launches first tranche of buyback programme for up to GBP500 million. Says the first tranche will buyback up to GBP250 million worth of shares, and will run until April 2024. It will be conducted by UBS AG. Says the purpose of the buyback is to reduce the firm's share capital, with shares purchased set to be cancelled.

Current stock price: 2,306.00

12-month change: up 53%

By Harvey Dorset, Alliance News reporter

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