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Frasers Group PLC - Shirebrook, England-based owner of House of Fraser, Sports Direct and Flannels retail chains - Starts share buyback on Thursday. Frasers will spend up to £80.0 million to buy back up to 10.0 million shares. It has a market capitalisation of £3.65 billion. The shares will be held in treasury prior to cancellation to reduce the capital of the company. The buyback will be completed prior to the close period for the company’s results for the half-year ending October 29. Frasers doesn’t say who will conduct the buyback, but Barclays Bank PLC, Liberum and Numis are listed in its announcement on Thursday. The buyback cannot exceed 25% of average daily trading volume on any one day. Current stock price: 801.89 pence, up 0.6% in London early Thursday 12-month change: up 1.8% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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