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LONDON - Kingfisher plc (LON:KGF) announced Tuesday it has instructed BNP Paribas SA (ETR:BNPP) to execute the second tranche of its share repurchase program, allocating up to £50 million to buy back shares for cancellation.
The new buyback tranche will commence immediately and conclude no later than September 22, 2025. BNP Paribas (OTC:BNPQY) will act as principal for the on-sale of shares to Kingfisher and will make independent decisions regarding the timing of purchases.
This represents the second portion of Kingfisher’s previously announced £300 million share repurchase program, which was initially revealed on March 25, 2025. The company has already repurchased and cancelled 17,932,871 shares under the program to date.
The home improvement retailer stated that the purpose of the repurchase is to reduce its share capital, with all acquired shares to be cancelled. The buyback will be conducted in accordance with the company’s general authority to repurchase shares, UK market abuse regulations, and UK listing rules.
The maximum number of shares that may be purchased is 178,317,323 ordinary shares, in line with the authority granted by shareholders at Kingfisher’s Annual General Meeting on June 23, 2025.
Kingfisher confirmed it currently has no unpublished price-sensitive information and noted that no repurchases will be made regarding its American Depositary Receipts.
The information was disclosed in a regulatory filing based on a company press release statement.
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