Investing.com – UniCredit (BIT:) has announced the implementation methods for the execution of the third and final tranche of the 2023 share buyback program.
The maximum amount of the buyback is equal to 1.5 billion euros for a number of UniCredit shares not exceeding 155 million, equal to approximately 9% of Unicredit’s share capital.
The purchases began on 24 June 2024 and the bank expects them to be completed approximately by September 2024.
This third tranche is the last part of the residual amount of the overall payout for the 2023 financial year, equal to 3.085 billion euros already authorized by both the shareholders’ meeting and the ECB held on 12 April 2024.
For the purposes of executing the third tranche of the 2023 buyback, UniCredit has appointed BofA Securities Europe SA as an authorized third-party intermediary, which will adopt decisions regarding purchases in full independence, also in relation to the timing of the operations and in compliance of daily price and volume limits and program terms.
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