VEON Announces Increased Share Buyback Program
VEON has announced a new $200 million share buyback program targeting approximately 72.5 million shares, or about 3.9% of its outstanding shares. The repurchase price is based on the company's closing ADS price of $69.37 as of September 22, with each American Depositary Share representing 25 underlying shares. This move reflects VEON’s strategy to return value to shareholders and signals confidence in its financial position. By accelerating share cancellations through this buyback program, the company aims to reduce its outstanding equity base, potentially improving earnings per share (EPS) metrics over time.
Tickers: $VEON
Topics: buyback program share repurchase