(Alliance News) - Buzzi Spa announced Thursday the launch of a buyback program of up to EUR200 million of its own shares.

The plan, which may last until June 2025, will serve to equip the company with a cash investment tool as well as a stock of securities useful for various corporate purposes.

To date, the company holds 7.5 million of its own shares, or 3.9 percent of its share capital.

Buzzi's stock is up 2.2 percent at EUR36.14 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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