The board of directors of IntercontinentalExchange (ICE) has approved a $300 million share repurchase plan for the company’s common stock. The authorization for the buyback scheme is in addition to the company’s remaining $85 million in a prior repurchase authorization worth $300 million.
The new program is likely to be executed through purchases made using open market purchases or purchases through a trading plan. The futures exchanges operator will not be compelled to buy any specific amount of common stock. The program can be ended at ICE’s discretion.
Click here for the release from PR Newswire.