28th Nov 2025 08:32
(Alliance News) - Kingfisher PLC on Friday kicked off the GBP50 million fourth tranche of an ongoing buyback programme.
The London-based DIY and home improvement retailer has appointed Morgan Stanley & Co International Plc to run this tranche, which is part of a planned GBP300 million scheme.
This was announced back in March, when Kingfisher completed a previous GBP300 million buyback programme.
The scheme's purpose is to reduce overall capital and as such, all repurchased shares will be cancelled, Kingfisher said. As of Friday, it has repurchased and cancelled about 60.8 million shares under the programme.
The fourth tranche is due to complete by January 21.
Kingfisher stock traded up 1.1% at 310.40 pence a share on Friday morning in London, and has risen 25% in the past year.
By Holly Munks, Alliance News reporter
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