Spain’s FCC Approves Buyback of Shares, Expansion Says
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Shareholders of Fomento de Construcciones y Contratas (FCC), controlled by billionaire Carlos Slim, approved an initial public offering of its own shares to reduce share capital by 7% via the acquisition of more than 32 million shares at 12.50 euros apiece, Expansion reported.
That represents a 38% premium compared to the share’s median price during the last six months, according to Expansion.