Avolta shares jump on CHF 200 mln buyback plan

Investing.com -- Avolta shares jumped over 8% on Friday following the announcement of a CHF 200 million share buyback program.

The Swiss-based travel retailer will repurchase its registered shares through a buyback program starting before January 31, 2025, and concluding by December 31, 2025.

Avolta's share buyback program aims to enhance shareholder value by returning capital and improving per-share metrics. 

This aligns with the company's 'Destination 2027' plan, which focuses on efficient capital allocation

This buyback aims to enhance shareholder value by reducing the number of outstanding shares, reflecting the company's focus on financial strength and shareholder returns.

“This share buyback programme reflects Avolta’s strong balance sheet, financial performance and confidence in its future cash generation,” said Avolta’s chief executive, Xavier Rossinyol in a statement. 

Source: Investing.com