ALSO Holding Launches EUR 120 Mln Share Buyback Program
(RTTNews) - ALSO Holding AG (ALSN.SW) on Tuesday announced the launch of a share buyback program of up to 120 million euros, with the repurchase scheduled to begin on March 12.
The program represents approximately 5% of the company's market capitalization, based on the current share price.
The company said that the repurchased shares are intended to finance potential acquisitions, enhance liquidity, and support long-term, performance-based compensation programs.
The company said its forward-looking business model, strong leadership and consistent cash flow management underpin its continued sustainable growth.
ALSO Holding AG closed trading, 0.37% lesser at CHF 163.20 on the Swiss Stock Exchange.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.