Iveco Group Concludes Initial Phase of Share Buyback Program
Iveco Group Announces Successful Completion of Buyback Tranche
Recently, Iveco Group N.V. (EXM: IVG) completed a significant milestone in its ongoing efforts to enhance shareholder value.
Detailed Overview of Transactions
The company accomplished a series of transactions from September 16 to September 18, reflecting its strategic approach towards share repurchasing.
Transaction Highlights
During this period, a total of 363,377 Common Shares were purchased. Here is a snapshot of the transactions:
- On September 16, 2024, 140,000 shares were bought at an average net price of €8.7986, totaling €1,231,800.23.
- The following day saw the purchase of 160,000 shares at an average price of €8.9956, amounting to €1,439,298.99.
- Finally, on September 18, 2024, 63,377 shares were acquired at an average price of €9.1383, which totaled €579,158.06.
In total, the net consideration for these transactions reached approximately €3,250,257.28.
Completing the Initial Tranche
These purchases mark the completion of the initial tranche of the €60,000,000 share buyback program announced on June 21, 2024. This initiative is approved under a broader strategy which allows for up to €130,000,000 in total buybacks, as sanctioned by the Annual General Meeting held on April 17, 2024.
Commitment to Shareholders
Iveco Group's ongoing buyback program reflects its robust financial strategy aimed at maximizing shareholder returns while reinforcing market confidence.
Company Overview
Iveco Group N.V. is renowned for its dynamic portfolio of brands and commitment to sustainability. It encompasses a variety of manufacturers and sectors including commercial vehicles (IVECO), powertrains (FPT Industrial), and specialized vehicles for defense (IDV), among others.
Employing over 36,000 individuals globally, the company bolsters its innovation strategy through 20 manufacturing facilities and 31 research and development centers. This diverse structure not only supports its core business operations but also amplifies its market presence across different sectors.
Continuous Growth and Development
As a key player in the automotive industry, Iveco Industries continues to evolve and adapt to market needs, ensuring that it meets the demands of sustainability while enhancing its operational efficiency.
Frequently Asked Questions
What is the main purpose of the buyback program?
The buyback program aims to enhance shareholder value and demonstrate financial stability by repurchasing shares.
How many shares were acquired in the initial tranche?
A total of 363,377 Common Shares were repurchased during the initial tranche of the buyback program.
What is the authorization for the overall buyback program?
The overall buyback program is authorized to repurchase up to €130,000,000 worth of shares.
When was the buyback program announced?
The buyback program was announced on June 21, 2024.
What are the key brands under Iveco Group?
Key brands include IVECO, FPT Industrial, IVECO BUS, HEULIEZ, and MAGIRUS, each specializing in various sectors of the automotive industry.
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