Lottomatica Group Initiates EUR 500 Million Share Buyback Program

Lottomatica Group S.P.A. ( (IT:LTMC) ) has issued an update.

Lottomatica Group S.p.A. has initiated a share buyback program authorized by its shareholders and board of directors. The program aims to purchase up to 25 million shares, representing about 10% of the company’s share capital, with a maximum expenditure of EUR 500 million. The buyback is intended to remunerate shareholders and support share incentive plans, while also allowing flexibility for potential acquisitions. The program will be conducted through Goldman Sachs International, ensuring compliance with relevant regulations and equal treatment of shareholders. The duration of the program is set for a maximum of 18 months, and the company will update the market on the progress and any changes to the program.

The most recent analyst rating on (IT:LTMC) stock is a Buy with a EUR12.50 price target. To see the full list of analyst forecasts on Lottomatica Group S.P.A. stock, see the IT:LTMC Stock Forecast page.

More about Lottomatica Group S.P.A.

Lottomatica Group S.p.A. operates in the gaming and lottery industry, providing a range of gaming services and products. The company focuses on offering lottery games, sports betting, and other gaming solutions, primarily targeting the European market.

Average Trading Volume: 628,910

Technical Sentiment Signal: Buy

Current Market Cap: €5.92B

For a thorough assessment of LTMC stock, go to TipRanks’ Stock Analysis page.