Italian Wine Brands launches new EUR375,000 share buyback program

(Alliance News) – Italian Wine Brands Spa announced on Tuesday that it has launched a new treasury share repurchase program for up to 15,000 shares, with a total value of up to EUR375,000.

As the company explained in a note, the primary objective of the program is to build up a stock of shares to be used in extraordinary transactions, including potential share swaps as part of sector consolidations.

To date, the company already holds 108,085 treasury shares, representing 1.1% of its share capital.

Italian Wine Brands shares rose 2.5% to EUR19.64.

By Claudia Cavaliere, Alliance News reporter

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