London Stock Exchange and Goldman Sachs Launch £1bn Share Buyback Program

London Stock Exchange Group (LSEG) has partnered with Goldman Sachs to launch a share buyback programme of up to £1bn. The programme aims to return excess capital to shareholders and strengthen the company's balance sheet. LSEG has been expanding through acquisitions, including the purchase of Refinitiv in 2020.

London Stock Exchange Group (LSEG) has initiated a significant share buyback program, partnering with Goldman Sachs International to repurchase up to £1 billion in ordinary shares. The program aims to return excess capital to shareholders and bolster the company's balance sheet, following its recent expansion through acquisitions, including the purchase of Refinitiv in 2020 [1].

Under the agreement, Goldman Sachs will act as a riskless principal, purchasing shares with an aggregate value of up to £1 billion, in accordance with pre-set parameters. The buyback program is authorized by LSEG's shareholders and will commence immediately, with purchases expected to end by December 19, 2025. Goldman Sachs will independently manage trading decisions related to the buyback program, ensuring that the company's interests are not influenced [1].

The primary objective of the share buyback program is to reduce LSEG's share capital. As of the announcement, the company has authorization to purchase up to 53,060,997 shares, of which 50,799,470 remain after completing a previous share buyback program with Morgan Stanley & Co. International plc [1].

This move by LSEG underscores the company's commitment to shareholder value and financial stability, particularly in light of its recent strategic acquisitions. The program is expected to provide a boost to LSEG's stock price and potentially increase the company's earnings per share.

References:
[1] https://fxnewsgroup.com/forex-news/exchanges/london-stock-exchange-group-launches-1bn-share-buyback-program/