MT - ArcelorMittal commences a new ~$1.4B share buyback program

July, 29 2022 05:27 AM Arcelor Mittal NY Registry Shares NEW

After reporting mixed Q2 results on Thursday, ArcelorMittal ( NYSE: MT ) announces a new share buyback program of 60,431,380 shares in the amount of approximately $1.4B, bringing the total 2022 buybacks announced so far to approximately $3.4B.
The program is expected to be completed by the end of May 2023, subject to market conditions.
The shares acquired under the Program are intended to meet company’s obligations under debt obligations exchangeable into equity securities; to reduce share capital; to meet obligations arising from employee share programs.
Stock up 3% PM.

For further details see:

Company Name:	Arcelor Mittal NY Registry Shares NEW
Stock Symbol:	MT
Market:	NYSE
Website:	arcelormittal.com