May 31, 2017 / 5:35 AM / 7 months ago

LafargeHolcim to launch Swiss share buyback on June 1

ZURICH (Reuters) - LafargeHolcim (LHN.S) will start on June 1 its share buyback programme worth up to 1 billion Swiss francs (803.5 million pounds), the world’s biggest cement group said on Wednesday.

FILE PHOTO: The logo of LafargeHolcim is seen at its headquarters in Zurich, Switzerland, March 2, 2017. REUTERS/Arnd Wiegmann/File Photo

    The programme will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent. The second trading line is expected to remain open until December 31, 2018, it said.

    At the end of the buyback programme, the board of directors will propose cancelling the repurchased shares, it said.

    Reporting by Michael Shields

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