By Pierre Bertrand

 

ABB Ltd on Friday said that it would start its previously announced up to $1 billion share buyback program on Monday.

The planned buyback will be in effect from April 3 until March 20 of next year, the Swiss technology group said.

ABB said that it intends to cancel the repurchased shares.

The buyback was first announced last week and ABB said it represents a maximum of approximately 30 million shares based on the company's current share price.

This latest buyback follows the completion of its previous one of approximately $2 billion launched in April of last year, ABB said.

 

Write to Pierre Bertrand at pierre.bertrand@wsj.com

 

(END) Dow Jones Newswires

March 31, 2023 04:34 ET (08:34 GMT)

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