IG Group, the parent company of broker IG Markets, announced a pre-agreed-upon deal with Morgan Stanley & Co. for the third tranche of a share buyback program worth up to 50 million pounds.
The program's primary goal is to reduce share capital.
According to FNG, the third tranche will have a maximum aggregate market value of 50 million pounds, will begin on April 3, 2023 and end no later than August 31, 2023, increasing the program's size to 200 million pounds.
The third tranche will be implemented in accordance with the power given to IG Group's board of directors at its annual general meeting on September 21, 2022.
The maximum number of shares available under the third tranche is 23,767,538.
