STMicroelectronics launches $750M share-buybacks
STMicroelectronics NV (STM.FR) said Monday that it is launching a $750 million share buyback that will be carried out over the next three years.
The company said it plans to hold the repurchased shares as treasury stock to be used for employee award plans.
Based on STMicroelectronics’ Friday closing price on the New York Stock Exchange, the company could buy back around 47 million shares, or 5.2% of its total share capital.
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