InterContinental Hotels Group PLC announced that on October 25, 2024, it purchased 32,604 of its ordinary shares through Goldman Sachs International on the London Stock Exchange. This transaction was conducted in accordance with the authority granted by shareholders at the Company's Annual General Meeting on May 3, 2024.
The shares were acquired at prices ranging from a lowest of £84.4400 to a highest of £85.4000 per share, with an average price paid of £84.9401. This purchase is part of a broader buyback program that was initially announced by the company on February 20, 2024.
IHG intends to cancel the purchased shares, which reduces the total number of outstanding shares. Share buybacks can enhance shareholder value by reducing the share count and potentially increasing earnings per share.
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