Frasers to repurchase up to 10m shares in new buyback programme

Sports Direct owner Frasers Group launched a new share buyback programme on Monday, with the business set to repurchase up to £80.0m worth of ordinary shares.

Frasers buyback scheme will run from 29 April until immediately before entering a close period in the lead-up to the publication of its preliminary results

The London-listed group, which launched the buyback programme in order to reduce its capital, will hold the as many as 10.0m freshly purchased shares in treasury pending cancellation or re-issue.

As of 0935 BST, Frasers shares were up 3.27% at 822.0p.

Reporting by Iain Gilbert at Sharecast.com