SM announces buy-back

Swedish Match said today that it had resolved to initiate a share buy-back program worth up to SEK250 million.

The program was due to run between June 20 and July 21.

The company said the program ‘formed part of Swedish Match’s existing strategy to return excess cash to its shareholders’.

‘Repurchased shares will be used to reduce Swedish Match’s share capital by cancellation of shares,’ according to a note posted on the company’s website.