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Highlights:
InterContinental Hotels Group (IHG) repurchased 10,000 of its ordinary shares on November 18, 2024.
The shares were acquired through Goldman Sachs International (GSI) on the London Stock Exchange.
The purchased shares will be cancelled, reducing the total number of shares in circulation.
InterContinental Hotels Group (LSE:IHG) , a global leader in the hospitality sector, has completed a share repurchase transaction, acquiring 10,000 of its ordinary shares on November 18, 2024. The purchase was carried out in compliance with the authority granted by shareholders at the company’s Annual General Meeting (AGM) on May 3, 2024, and was executed through Goldman Sachs International (GSI) on the London Stock Exchange.
The repurchased shares were acquired at a range of prices, with the lowest price paid per share being £94.34, and the highest price paid per share standing at £95.38. The average price paid for each share was £94.99. These shares will be cancelled, reducing the total number of shares in circulation, which now stands at 158,722,846, excluding 6,956,782 shares held in treasury.
The share buyback is part of IHG's ongoing strategy to manage its capital structure effectively and return value to shareholders. By reducing the number of shares in circulation, IHG aims to enhance the value of the remaining shares, supporting shareholder interests.
This move follows the company's earlier announcement on February 20, 2024, in which it outlined plans for the repurchase program. The cancellation of shares is expected to contribute positively to IHG’s overall financial health by improving earnings per share (EPS) and optimizing the capital base.
IHG has confirmed that a detailed breakdown of the individual transactions executed by GSI in connection with this purchase is available, offering transparency into the repurchase process. The company remains committed to maintaining a strong financial position while continuing to focus on its long-term growth and strategic initiatives.
