MILAN (Reuters) – Ferrari will start a third tranche of its share buyback program for up to 200 million euros ($219.26 million), the Italian luxury sportscar maker said on Tuesday.
The new purchase will start on July 3 and end by October 20, it said in a statement.
The company added it had completed the second tranche worth 200 million euros under its multi-year share buyback plan of around 2 billion euros, which is expected to end by 2026.
As of June 26, Ferrari held 12,605,235 common shares equal to 4.91% of the total issued share capital, including common shares and special voting shares, it said.
($1 = 0.9122 euros)
(Reporting by Cristina Carlevaro, editing by Federico Maccioni)
