(Alliance News) - Centrica PLC on Tuesday said it has appointed investment bankers Goldman Sachs International to conduct a GBP200 million first tranche of its new share buyback programme.
The GBP200 million will buy back up to 568.6 million shares, about 2.4% of Centrica's existing shares, it said.
Centrica shares were up 1.5% to 154.70 pence early Tuesday in London, giving the company a market capitalisation of GBP8.50 billion.
The tranche is part of the GBP450 million 2023-24 buyback programme that Centrica announced back in July.
On Monday, the company said it had completed the programme it had announced in April, spending GBP302.1 million in total to buy back shares.
By Tom Waite, Alliance News editor
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Centrica (CNA)