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InterContinental Hotels ( (GB:IHG) ) just unveiled an update.
InterContinental Hotels Group PLC announced the repurchase of 33,570 of its ordinary shares at an average price of £99.4346 per share through Goldman Sachs International on the London Stock Exchange. This move to buy back shares, which will be canceled, reflects the company’s strategy to manage its capital resources effectively, potentially enhancing shareholder value by reducing the number of shares outstanding.
More about InterContinental Hotels
InterContinental Hotels Group PLC operates in the hospitality industry, offering hotel and resort services across a global network. The company focuses on providing premium accommodations and experiences for travelers and has a significant presence in various international markets.
YTD Price Performance: 42.66%
Average Trading Volume: 433,504
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £15.73B
For a thorough assessment of IHG stock, go to TipRanks’ Stock Analysis page.