Ferrari (IT:RACE) has released an update.
Ferrari N.V. has actively pursued its share buyback program, purchasing a considerable number of common shares on both the Euronext Milan and the New York Stock Exchange. As of May 24, 2024, the luxury car manufacturer has invested over €215 million for shares on the EXM and approximately $87 million (€80 million) for shares on the NYSE, holding about 5.46% of its total issued share capital in treasury. This move is part of a larger, multi-year share buyback scheme expected to reach around €2 billion by 2026, as revealed at the 2022 Capital Markets Day.
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