Broker IG Group has announced a further buyback of listed ordinary shares under its £250 million extended buyback program.
To this end, the broker has entered into non-discretionary instructions with JP Morgan Securities plc to execute the Second Tranche of the program of up to £150 million (subject to certain pre-determined parameters) and to make trading decisions in respect of the program independently of IG Group.
According to the FNG portal, the total market size of the first tranche is £150 million and will take place between November 7, 2023 and July 31, 2024.
The second tranche will take place under the authority granted to the Board of Directors of IG Group at the meeting held on September 20, 2023.
The maximum number of shares available for purchase under the Second Tranche is 40,452,304.
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