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IN BRIEF: BAE Systems starts third tranche of £1.5 billion buyback

ALN

BAE Systems PLC- London-based defence contractor - Commences the third tranche, worth up to £500 million, of its up to GBPBP1.5 billion, three-year buyback scheme announced back in August 2023. Says JP Morgan Securities PLC will carry out share repurchases on its behalf, with the tranche expected to complete by June 30 next year. Notes the purpose of the programme is to reduce its share capital, with shares repurchased to be cancelled.

Current stock price: 1,823.50 pence, down 1.3% on Monday morning in London

12-month change: down 3.0%

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