Signify Completes Share Repurchase Program

Signify announced that that its share repurchase program which aims to reduce the company’s capital has been completed.

(Image: Signify)

In July 2018, Signify announced the start of a share repurchase program to buy back up to EUR 230 million (US$ 261.41 million) of its shares to reduce the company’s capital. Since the program began, Signify has continued to repurchase the share of the company and update the progress weekly. In line with its timeframe, the program was completed on December 7th. During the period, the company has bought back 9.7 million shares for a total consideration of EUR 220 million.

Signify planned to repurchase shares for an amount of up to EUR 300 million (US$ 341.03 million) and has repurchased 2.2 million of its shares for EUR 71 million (US$ 80.71 million) in February. Then by December, the company has finished the EUR 220 million repurchase program.

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