IG Group commences £50M third tranche of Share Buyback program
UK online trading leader IG Group (LON:IGG) has announced that following the announcement of a new share buyback programme of up to £150 million on 25 July 2024, and the announcement of the £50 million extension of the Programme on 23 January 2025, it is pleased to announce that it has entered into non-discretionary instructions with Morgan Stanley & Co. International Plc to conduct the third tranche of the Programme of up to £50 million.
The third tranche of the buyback will take place in accordance with certain pre-set parameters. Morgan Stanley will make trading decisions in relation to the Programme independently of IG Group.
The sole purpose of the Programme is to reduce share capital.
The Third Tranche will be for a maximum aggregate market value of £50 million, will commence on 3 February 2025 and will end on or before 10 June 2025.
The Third Tranche will take place within the limitations of the authority granted to the Board of IG Group at its annual general meeting, held on 18 September 2024. Pursuant to that authority, the maximum number of shares which remain available for purchase under the Third Tranche is 28,922,621.
About IG Group
IG Group provides online trading platforms and educational resources to empower ambitious clients around the globe. Headquartered in the UK, IG Group is a FTSE 250 company that offers clients access to ~19,000 financial markets worldwide.