29th Aug 2018 08:34
LONDON (Alliance News) - Shares in software and IT firm Micro Focus International PLC rose early Wednesday as the company announced a new share buyback programme.
Micro Focus did not say how much the overall buyback would be worth, but it is to return USD200 million to shareholders in the first tranche, running from Wednesday until October 24 with Citigroup in charge.
The company also said shareholders have approved its sale of its SUSE business segment to Marcel Bidco GmbH for USD2.54 billion. Marcel Bidco is a newly-incorporated subsidiary of EQTVIII SCSp.
Shares were up 4.3% early Wednesday at 1,336.50 pence each, making it the best performer in the FTSE 100 index.
Related Shares:
MCRO.L