Ferrovial Cancels 13.2M Treasury Shares With Nominal Value Of €0.01/Share; As Result, Issued Share Capital To Be Reduced By Nominal Amount Of €132,451; Cancellation May Not Be Effected Earlier Than 2-Months After Resolution Is Adopted And Announced
Portfolio Pulse from Benzinga Newsdesk
Ferrovial has announced the cancellation of 13.2 million treasury shares, each with a nominal value of €0.01. This will reduce the company's issued share capital by €132,451. The cancellation will take effect no earlier than two months after the resolution is adopted and announced.
June 17, 2024 | 3:08 pm
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Ferrovial is set to cancel 13.2 million treasury shares, reducing its issued share capital by €132,451. This move is likely to have a positive impact on the stock price as it reduces the number of shares outstanding, potentially increasing the value of remaining shares.
The cancellation of treasury shares reduces the total number of shares outstanding, which can increase the value of the remaining shares. This is generally viewed positively by investors as it can lead to an increase in earnings per share (EPS) and potentially boost the stock price.
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