Spotify Announces Stock Buyback up to $1 billion value
NEW YORK, 20th Aug 2021-- Online music streaming platform Spotify Technology S.A. (NYSE: SPOT) announced that it will commence a stock repurchase program beginning in the third quarter of 2021.
Repurchases of up to 10,000,000 of the Company’s ordinary shares have been authorized by the Company’s general meeting of shareholders, and the Board of Directors approved such repurchases up to the amount of $1.0 billion.
The authorization to repurchase will expire on April 21, 2026. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The repurchase program will be executed consistent with the Company’s capital allocation strategy, which will continue to pr...