FX.co ★ Zalando To Initiate EUR 100 Mln Share Buyback Program

Zalando SE, a leading online fashion retailer based in Germany, has announced its plans to launch a share buyback program. This program would involve the purchase of shares worth up to 100 million euros, not including any additional transaction fees.

The program provides for the repurchase of a maximum of six million of the company's own shares, commencing on the 13th of March 2024 and ending no later than the 26th of July 2024. This decision has received the approval of the Supervisory Board and follows the authorizations laid out at the 2020 Annual General Meeting.

Zalando SE has stated that the repurchased shares will be used to fulfil its obligations related to the company's option programs, which are extended to its employees and members of the Management Board.