Credit Agricole Launches Buyback to Offset Capital Increases for Employees
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Dow Jones
By David Sachs
Credit Agricole will launch a buyback program on Friday, it said.
The French bank said Thursday that the program tops out at 26.8 million ordinary shares and will end by Jan. 26, 2024.
The transaction is intended to offset the dilutive effect of the 2023 capital increase reserved for employees, Credit Agricole said.
Write to David Sachs at david.sachs@wsj.com
Corrections & Amplifications
This article was corrected on October 6, 2023 to reflect that the share repurchase program will end no later than Jan. 26, 2024. The original version incorrectly said the program would end by Jan. 12, 2024 in the second paragraph.
(END) Dow Jones Newswires
October 05, 2023 12:11 ET (16:11 GMT)
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