Tenaris (TS) has released an update.
Tenaris S.A., a Luxembourg-based steel company, announced the approval of a significant share capital reduction following its Extraordinary General Meeting on April 30, 2024. The company will cancel over 17 million treasury-held shares, reducing its share capital from approximately $1.18 billion to $1.16 billion. This move, part of its share buyback program, will also lead to amendments in the company’s articles of association to reflect the new share capital structure.
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