The Board of Directors of Salini Impregilo yesterday approved the proposal to authorize the purchase of treasury shares to be submitted to the ordinary shareholders' meeting. The company communicates it in a note, specifying that the faculty to be attributed to the Board of Directors will concern the purchase of ordinary shares up to 10% of the total.
The authorization will be requested for 18 months, the current maximum term allowed by law. The reasons for the request are the usual ones for the buyback: the possibility of operating on the market to support the liquidity of the share, also to stabilize its price, and the creation of a portfolio of treasury shares which can be used in the event of extraordinary finance transactions or of incentive.
In the wake of the news, Salini Impregilo shares gained more than three percentage points at the opening today in Piazza Affari, a 3,074 euro.
