Investment firm Man Group has launched a $100.0m share buyback programme.
Man Group said on Tuesday that it would repurchase a maximum of 129.58m shares as part of the buyback, in line with its policy to distribute capital to shareholders while “maintaining a prudent balance sheet”.
It will run from 10 August through to 9 August 2022.
The FTSE 250-listed firm stated that the purpose of the share buyback programme was to reduce its overall share capital and enable the company to meet obligations arising from employee share option programmes.
As of 0905 BST, Man Group shares were up 1.77% at 213.0p.
