British American Tobacco (BTI) has released an update.
British American Tobacco (BAT) has initiated a £1.60 billion share buy-back programme to reduce its issued share capital, with plans to repurchase £700 million worth of shares in 2024 and the remaining £900 million in 2025. The buy-back follows the successful sale of BAT’s shares in ITC Limited, which netted the company £1.57 billion. The repurchased shares will be cancelled, contributing to a tighter share structure for the tobacco giant.
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