FX.co ★ Reckitt Benckiser Commences Initial Tranche Of GBP 250 Mln In GBP 1 Bln Share Buyback Program

On Friday, Reckitt Benckiser Group Plc (RBGPF.PK, RB.L), a leading British consumer goods company, announced the initiation of the first tranche of its previously declared £1 billion share buyback program. This first tranche is set to return up to £250 million to shareholders.

The primary objective of the program is to reduce the company's share capital.

Under this initiative, the company will purchase up to 63 million Ordinary Shares. The first tranche will begin on July 26 and is projected to conclude by October 31.

Reckitt has partnered with J.P. Morgan Securities plc to oversee the management of this tranche.