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IN BRIEF: Nexxen sets USD50 million buyback ahead of London delisting

19th Nov 2024 15:05

Nexxen International Ltd - Tel Aviv-based advertising technology platform - Launches new share buyback worth up to USD50 million. The buyback will be run by Cavendish Capital Markets Ltd. It will start on Tuesday and be completed by February 14. Nexxen has a USD476.3 million market capitalisation.

Last week, Nexxen said its plans to delist from London and trade its ordinary shares on Nasdaq in New York instead of American depositary receipts. The company also announced plans for a reverse share split at a two-for-one ratio which will allow for a one-to-one exchange of the ADRs into ordinary shares.

Current stock price: 330.00 pence, up 8.9% in London on Tuesday

12-month change: up from 147.70p

By Tom Waite, Alliance News editor

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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