(RTTNews) - TP ICAP Group PLC (TCAP.L), a financial market infrastructure and data solutions provider, on Thursday, announced the launch of its sixth share buyback programme to repurchase ordinary shares for up to 80 million pounds.
The repurchases will be carried out under the shareholder authority granted at the May 14, 2025 annual general meeting, which allows the company to buy back up to 75,253,839 shares, or about 10% of the shares in issue at that time.
The company noted that 50 million pounds of the buyback is funded from its legal entities rationalisation programme, delivered ahead of schedule.
The company said the buyback is intended to reduce its capital and or meet obligations under employee share schemes.
The company has completed or announced 230 million pounds of share buybacks since 2023.
On Wednesday, TP ICAP Group closed trading 5.21% lesser at GBp 245.50 on the London Stock Exchange.
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