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Feb. 26, 2021, 1:53 a.m. EST

Ferrovial launches EUR25M share buyback

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By Joshua Kirby

Ferrovial SA said late Thursday that it is launching a share-buyback program.

The Spanish infrastructure company said the maximum investment in the buyback will be 25 million euros ($30.4 million), or a maximum 1 million shares, around 0.34% of current share capital. The purchase price won't exceed the price of the last independent trade, the company said.

The program begins Friday and will last until March 8 inclusive, or earlier if the threshold is reached.

The shares bought will be transmitted to executives, managers and employees as part of performance-based and other compensation schemes, Ferrovial said.

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