The Adidas Group is resuming its share buyback program today, based on the authorization given at its annual meeting on May 12. After two previous tranches of stock repurchases conducted in the last two years, involving a total of 9,018,769 shares that represented 4.31 percent of its share capital, the company will acquire a third tranche of up to three million shares for an aggregate cost of up to €300 million by next Jan. 31. The shares may be cancelled or used to meet obligations arising from the potential conversion of €500 million worth of convertible bonds due on June 14, 2019. They may also be used for other admissible purposes.

Topics