IG Group kicks off second tranche of share buyback
Updated : 08:19
IG Group announced the start of the second tranche of its share buyback programme on Wednesday, with an allocation of up to £75m.
The FTSE 250 company initially announced the programme on 25 July, outlining a total of up to £150m, with a primary aim to reduce IG Group's share capital.
It said UBS had been appointed to execute the latest tranche within pre-set parameters.
The programme was set to begin on Wednesday, and would run through to 31 January.
Shares purchased under the programme would be held in treasury.
The second tranche was being conducted under the authority granted at IG Group's annual general meeting on 18 September, allowing it to repurchase up to 36,934,031 shares.
At 0819 BST, shares in IG Group Holdings were up 0.33% at 915.5p.
Reporting by Josh White for Sharecast.com.