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IN BRIEF: Wise starts $540 million share buyback

ALN

Wise Group PLC - London-based money transfer services - Starts on Tuesday the share buyback programme it announced with its annual results in June. Wise commissions Goldman Sachs International to buy back up to £405 million, about $540 million, in shares by the end of March next year, which is Wise’s financial year-end. In announcing the buyback last month, Wise only said it would be worth more than $500 million. About 40% of the shares repurchased will be used for employee share awards and the remainder held in treasury. Wise pays no cash dividend.

Current stock price: 917.20 pence for £9.41 billion market capitalisation

12-month change: down 11%

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