May 31, 2017 / 5:33 AM / in 6 months

LafargeHolcim to launch Swiss share buyback on June 1

ZURICH (Reuters) - LafargeHolcim (LHN.S) will start on June 1 its share buyback program worth up to 1 billion Swiss francs ($1.03 billion), the world’s biggest cement group said on Wednesday.

The logo of LafargeHolcim, the world's largest cement maker, is seen at its headquarters in Zurich, Switzerland March 2, 2017. REUTERS/Arnd Wiegmann

The program will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent. The second trading line is expected to remain open until December 31, 2018, it said.

At the end of the buyback program, the board of directors will propose cancelling the repurchased shares, it said.

Reporting by Michael Shields

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