Repsol to buy back €900 million of its own shares


According to a note sent yesterday by Repsol to the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores, or CNMV), the maximum number of shares to be acquired under the buyback programme will amount to 35,000,000, representing approximately 2.64% of Repsol’s current share capital.

The maximum net investment under the programme amounts to €909,755,000, the oil company said. Repsol has explained that the acquisition of the shares will be carried out “at market price” and that the trading volume may not exceed “more than 25% of the average daily volume of the shares”.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.