Rocket Internet announces share buy-back program
Rocket Internet , the global e-commerce investor, says it will carry out a share buy-back program with a total maximum consideration of up to €100 million.
The buy-back scheme will include up to 5,000,000 shares, representing a maximum of up to 3.03% of the outstanding share capital of the company.
The buy-back will be executed via Xetra trading on the Frankfurt Stock Exchange and will begin on August 14, 2017, ending on April 30, 2018.
The repurchased shares are intended to be redeemed, and Rocket Internet’s share capital is intended to be reduced accordingly.
“We use our strong cash position to repurchase own shares,” said Oliver Samwer, CEO Rocket Internet. “The Share Buy-Back Program underlines our aim to allocate capital most efficiently.”
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