Salvatore Ferragamo runs with buy back of up to 5% of capital

(Il Sole 24 Ore Radiocor) Corre Salvatore Ferragamo at Piazza Affari, after the announcement of the buy back programme that gives the market confidence about the company's prospects. The stock surged by more than 7%, crossing the EUR 9 threshold. The stock has risen in value since the beginning of the year by 37.5%, but this still does not erase the decline of the last 12 months (-20%) and does not revisit the EUR 10 mark of April 2025. Today's purchases focus on the news of the buyback of up to 5% of the capital announced by the company's board, also planned in several tranches and through intermediaries. The maximum total value of the transaction has been set at EUR 53 million. The share buy-back programme will last 18 months from the shareholders' resolution and can therefore be executed until 22 October 2027. As of today, Salvatore Ferragamo's share capital is divided into 168,790,000 ordinary shares, with no par value. The company holds 1.82% of the capital. The board has also authorised possible 'acts of disposition', including the sale of treasury shares purchased. For Intermonte analysts, this is 'positive news as it suggests shareholder confidence in the group's future prospects'. Analysts also point out that in the last few days the holding company Ferragamo Finanziaria has announced a number of purchases on the market amounting to over 170,000 shares and the shareholders' agreement between Ferragamo Finanziaria and Majestic Honour Limited (the holding company controlled by shareholder Peter Woo, which owns 6% of the capital) will expire on 29 June 2026. Intermonte has a neutral rating on the stock and a target price of €7.