Commodities● Neutral
SBM Offshore repurchased $25.5M shares in week-long buyback push
SBM Offshore spent EUR21.5M on share repurchases in the week through July 15, bringing total buybacks under the EUR227M program to EUR126.5M since February.
Continue with
SBM Offshore spent EUR21.5 million (about $25.5 million) buying back its own shares in the week that ended July 15, part of the EUR227 million repurchase program the floater specialist launched in late February.
The buyback covered 1.45 million shares at an average price of EUR14.83 apiece, the company said Monday. SBM has now repurchased roughly 13.6 million shares since the program started in February, spending EUR126.5 million of the authorized total.