STMicroelectronics N.V. announces the completion of the share buy-back program of $750 million. The Buy Back was launched on November 5, 2018 (the “Buy-Back “) and its duration was approximately 2.6 years. The Buy-Back was carried out in accordance with the authorization of the Supervisory Board and the provisions of the Market Abuse Regulation (EU) 596/2014 and Commission Delegated Regulation (EU) 2016/1052.
The Company carried out the Buy-Back and held the shares bought back as treasury stock for the purpose of meeting the Company’s obligations in relation to its employee stock award plans.
Through the Buy-Back, the Company repurchased a total of 31,261,581 shares, on a weighted average purchase price of €20.5362 per share, for a total of €641,994,242, equivalent to $750 million. There are 911,204,420 issued shares in the Company’s capital and as of June 21, 2021, the Company holds approximately eight million treasury shares, representing approximately 0.9 percent of its issued share capital.
Purchases of shares were made through the regulated market of Euronext Paris.