The Strategist

Softline increases buy back volume to $100M



02/03/2022 - 07:39



Softline Group, a provider of integrated technology solutions and information technology services, has announced an increase in its buyback programme from $10 million to $100 million, the company said in a statement.



softline
softline
In December, the group announced the launch of the buyback program, which planned to buy back GDRs for up to $10 million during the year.

The aim of the programme is to finance the company's long-term management incentive plan. The purchase of shares and/or GDRs will be done directly by the company itself or through a subsidiary.

Softline held an IPO in October with an initial public offering of 53.333 million global depositary receipts (GDRs) at $7.5 per paper and raising $400 million. The offering took place on the London Stock Exchange.

The firm was founded in 1993 and provides technology solutions and services in digital transformation, cloud technologies and information security. The group has a presence in more than 50 countries.

source: reuters.com




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