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InterContinental Hotels launches $900 million share buyback

Published 18/02/2025, 08:04
InterContinental Hotels launches $900 million share buyback
IHG
1.50%

LONDON - InterContinental Hotels Group PLC (LSE:IHG) announced today that it will initiate a share buyback programme, planning to repurchase up to $900 million of its own shares. The buyback is part of the company's strategy to return surplus capital to its shareholders.

The company has instructed Merrill Lynch International (MLI) to buy back the shares, acting independently of the company's influence. The share repurchases will take place on several trading venues, including the London Stock Exchange (LON:LSEG), Cboe Europe Limited, Turquoise, and Aquis, and will be completed no later than December 29, 2025.

This move aims to reduce the company's issued share capital, with the acquired shares set to be cancelled. The buyback programme adheres to the authority granted by shareholders at the Annual General Meeting on May 3, 2024, which allows for the repurchase of up to 11,209,672 shares, considering previous buybacks as of today.

The transactions will be conducted in compliance with the Financial Conduct Authority's Listing Rules and relevant market abuse regulations. InterContinental Hotels Group will keep its shareholders informed with regulatory updates regarding the share purchases as they occur.

This share buyback programme reflects the company's commitment to shareholder value and capital efficiency. The information is based on a press release statement issued by InterContinental Hotels Group PLC.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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