(RTTNews) - InterContinental Hotels Group PLC (IHG, IHG.L), on Tuesday announced a share buyback programme of up to $950 million as part of its strategy to return surplus capital to shareholders.
The programme will commence immediately and run no later than December 29.
Purchases will be carried out under the shareholder authority granted at the May 8, 2025, Annual General Meeting.
The maximum number of shares authorised for repurchase under the existing authority is 11,073,831, taking into account shares already bought back prior to February 17.
Shares will be purchased on the London Stock Exchange, Cboe Europe Ltd. (BXE and CXE order books), Turquoise and/or Aquis, and will be on-sold to the company.
The purpose of the programme is to reduce the company's issued share capital, with all repurchased shares to be cancelled.
On Monday, InterContinental Hotels closed trading 1.30% lesser at $144.50 on the London Stock Exchange.
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