STMicroelectronics repurchases 18.6 million shares

10th August 2017
Posted By : Alice Matthews
STMicroelectronics repurchases 18.6 million shares


Global semiconductor company serving customers across the spectrum of electronics applications, STMicroelectronics, has announced that it has completed the repurchase of approximately 18.6 million shares of its common stock for an amount of $297m under its share buy-back programme announced on 22nd June 2017. 

The shares were repurchased between 30th June and 4th August 2017 on the Mercato Telematico Azionario and other venues in open market transactions for a total of $297m.

The repurchased shares will be held as treasury shares and used to meet obligations arising from debt financial instruments that are exchangeable into equity instruments and to meet obligations arising from share award programmes.

Following the completion of such share buy-back programme, STMicroelectronics holds in total 40,742,409 treasury shares, which represent approximately 4.5% of the issued share capital of STMicroelectronics.

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