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Howden Joinery Group PLC said on Tuesday that it will begin the first part of a £250 million share buy-back programme through a repurchase of £125 million of its shares.
The London-based supplier of kitchens and joinery products said this will commence on Tuesday and end no later than July 29.
The investment bank of Zurich-based UBS Group AG will act as principal and will make decisions under the programme independently from the company. UBS's London branch is joint-broker in the programme.
Shares in Howden Joinery were up 0.5% at 764.00 pence on Tuesday morning in London.
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