InterContinental Hotels buys own shares on October 25, 2024
- On October 25, 2024, InterContinental Hotels Group PLC acquired 32,604 shares via Goldman Sachs International.
- The average purchase price was £84.9401, and the shares will be canceled post-transaction.
- This action will result in a reduction of outstanding shares to 158,986,840, reflecting the company's commitment to shareholder value.
On October 25, 2024, InterContinental Hotels Group PLC executed a transaction where it acquired 32,604 of its ordinary shares via Goldman Sachs International on the London Stock Exchange. This purchase was made under the authority granted at the company's Annual General Meeting held on May 3, 2024. The acquisition saw prices range from a low of £85.4000 to an average of £84.9401 per share. Following this buyback, the company intends to cancel the purchased shares, which are now no longer part of the market's shares in circulation. As a result, InterContinental Hotels will have a total of 158,986,840 ordinary shares outstanding, excluding approximately 6.96 million shares held in treasury. This strategic move underscores the company's ongoing efforts to manage its capital structure while returning value to shareholders. Additionally, the decision reflects broader trends in the market regarding share repurchase programs, which companies often utilize as a method for bolstering earnings per share and enhancing shareholder returns.