The Strategist

ArcelorMittal to buy back $1B worth of its shares by February 2022


11/18/2021 - 07:54



Steel giant ArcelorMittal intends to buy back shares worth a total of $1 billion as part of its fifth share buyback programme, the company said.



Nikolay Olkhovoy
Nikolay Olkhovoy
"ArcelorMittal will start a new $1 billion share buyback programme today," the company said.

The programme is scheduled to end in February 2022.

The company previously completed its fourth asset buyback programme, launched on 29 July 2021, under which ArcelorMittal bought back more than 67,000 shares for a total of €1.881 billion ($2.2 billion) at an average price of €27.9 per share.

ArcelorMittal shares are up nearly 1% in pre-market trading.

ArcelorMittal is the world's largest steel company. It is registered in Luxembourg. The concern was formed in 2006 through the merger of the Luxembourg company Arcelor and India's Mittal Steel.

source: bloomberg.com




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