(RTTNews) - ALSO Holding AG (ALSN.SW), a water and wastewater utility company, 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.
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