Ferrari NV (IT:RACE) has released an update.
Ferrari N.V. has actively pursued its share buyback program, investing approximately €157.74 million for 462,300 shares on the Euronext Milan (EXM) and an additional $49.19 million (€45.20 million) for 128,120 shares on the New York Stock Exchange (NYSE) since its announcement. The buyback is part of a larger, multi-year initiative aiming to reacquire around €2 billion worth of shares by 2026, aligning with the company’s capital strategy outlined in 2022. As a result of these buybacks, Ferrari now holds about 5.37% of its total issued share capital in treasury as of March 28, 2024.
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