By Adria Calatayud
Man Group PLC said Friday that it will start a new share-buyback program of up to $100 million.
The FTSE 250 investment manager said the program will run from Friday through to Sept. 17, 2021. Man Group said it estimates that around 66 million shares will be repurchased in open-market transactions under the program.
The program is in line with the company's policy to distribute capital to shareholders while maintaining a prudent balance sheet as it seeks to reduce its share capital, Man Group said.