Ferrari (IT:RACE) has released an update.
Ferrari N.V. has successfully completed the fourth tranche of its multi-year share repurchase program, buying back shares worth nearly €350 million. With this move, the iconic luxury carmaker has now reclaimed 5.51% of its total share capital, bolstering shareholder value. In a confident display of financial strategy, Ferrari is set to initiate the fifth tranche on July 1, 2024, with plans to repurchase up to €250 million in shares from both the Euronext Milan and the New York Stock Exchange.
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