THE WHAT? LVMH has released further details of its share repurchase program, approved at its OGM at the end of May.
THE DETAILS The French luxury conglomerate plans to buy back up to 10 percent of its share capital, which equates to 49,614,278 shares. The maximum price has been set at €950.
The program has been set to run for 18 months.
THE WHY? LVMH listed numerous objectives for the scheme, including covering stock option plan and debt securities, providing market liquidity or held and used in payment in connection with ‘external growth operations’, among others.