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