EssilorLuxottica Focuses On €1.6B Share Buyback

By Najiyya Budaly (June 17, 2022, 11:07 AM BST) -- Paris-listed eyewear specialist EssilorLuxottica launched a share buyback on Friday to line its shareholders' pockets with up to €1.6 billion ($1.7 billion).

EssilorLuxottica SA, which is headquartered in Paris and listed on the Euronext, said it would purchase up to 2.5 million shares back from holders from Friday until Aug. 31. The total number of shares that the ophthalmic lenses designer will buy back will depend on market conditions, it said.

The group said that the buyback reflects its "confidence in its value creation and long-term prospects."

The shares that the company acquires will be awarded to employees and directors of...

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