Anheuser-Busch InBev, the group with more than 500 beer brands globally, said yesterday it had repurchased 1 160 995 of its shares in the central order book of the Euronext stock exchange in Brussels from January 1, 2024 to January 5.
Reporting on the progress of its $1 billion (R19bn), 12-month share buy-back program that was announced on October 31, 2023, the group said yesterday the shares were repurchased at an average price of €58.6676 (R1196) per share, for a total consideration of €68.11 million.
Since the start of the share buy-back program on November 13, 2023, AB InBev had bought back 7 269 939 shares for a total of €418.11m. This amounted to 0.36% of the total shares outstanding.
The group, which includes Budweiser, Corona and Stella Artois in its beer portfolio, was trading 0.18% lower at R1212.51 on the JSE midday yesterday, a price that was 17% higher than the price on the same day 12 months’ previously.
“Our current intention is to hold the shares acquired as treasury shares to fulfil future share delivery commitments under the stock ownership plans. The program will be executed under the powers granted at the General Meeting of Shareholders on 28 April 2021,” the group said last October in relation to the share buyback programme.
BUSINESS REPORT