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LONDON - British supermarket chain J Sainsbury plc announced Friday the commencement of a £92 million share buyback programme that will run until the end of its financial year on February 28, 2026.
The programme, which begins today, aims solely to reduce the company's share capital, with Sainsbury planning to cancel all repurchased ordinary shares, according to a company statement based on a press release.
Sainsbury has appointed BNP Paribas to execute the programme independently, with the bank making trading decisions without the company's direct input through non-discretionary instructions.
The buyback will operate within the limitations approved by shareholders at Sainsbury's annual general meeting on July 3, 2025, which authorized the company to repurchase up to 233,769,100 shares.
This announcement follows an earlier statement made by the retailer on November 6, though details of that previous communication were not specified in the press release.
Sainsbury trades on the London Stock Exchange under the ticker LSE:SBRY.
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