Views Article – Sharenet Wealth

News, North America

ABB Launches $4.3 Bln Share Buyback Program

April 8 (Reuters) – Abb Ltd:

* SAYS ABB LAUNCHES NEW SHARE BUYBACK PROGRAM

* SAYS ABB WILL LAUNCH ON APRIL 9, 2021 ITS PREVIOUSLY ANNOUNCED FOLLOW-UP SHARE BUYBACK PROGRAM OF UP TO $4.3 BILLION

* SAYS BASED ON CURRENT SHARE PRICE THIS REPRESENTS A MAXIMUM OF APPROXIMATELY 137 MILLION SHARES

* SAYS HE MAXIMUM NUMBER OF SHARES THAT MAY BE REPURCHASED UNDER THIS NEW PROGRAM ON ANY GIVEN TRADING DAY IS 1,543,644.

* SAYS THIS FOLLOW-UP PROGRAM IS PART OF ABB’S PLAN TO RETURN $7.8 BILLION OF CASH PROCEEDS FROM POWER GRIDS DIVESTMENT TO SHAREHOLDERS Source text for Eikon: Further company coverage: (Reporting By Berlin Newsroom)


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