ZURICH (Reuters) – ABB will launch its new share buyback program of up to $1.5 billion on February 10, which would be up to around 27.6 million shares based on the current share price, the Swiss engineering company said on Friday.
Since July 2020, ABB has repurchased about 324 million shares for capital reduction purposes for a total of approximately $10.3 billion, the firm said in a statement.
The maximum number of shares that may be repurchased under the new program on any given trading day is 663,417, it added.
(Writing by Dave Graham, Editing by Miranda Murray)
