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InterContinental Hotels ( (GB:IHG) ) has provided an announcement.
InterContinental Hotels Group PLC has announced a share buyback program, intending to repurchase shares worth up to USD 900 million as part of its strategy to return surplus capital to shareholders. This move is expected to reduce the company’s issued share capital, with the shares purchased under the program being canceled. The buyback may influence the company’s market positioning by potentially enhancing shareholder value and optimizing capital structure.
More about InterContinental Hotels
IHG Hotels & Resorts is a global hospitality company operating a family of 19 hotel brands, including luxury and premium options, with over 6,600 hotels in more than 100 countries. Known for its IHG One Rewards program, the company serves a broad market with hotels ranging from luxury to essential lodging options, supported by a significant development pipeline and a large workforce.
YTD Price Performance: 5.64%
Average Trading Volume: 358,079
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £16.6B
See more insights into IHG stock on TipRanks’ Stock Analysis page.
