USD 1.2 Billion, 2025-2026 Share Buyback Program
USD 1.2 Billion, 2025-2026 Share Buyback Program
On May 27, 2025 Tenaris’s Board of Directors approved a share buyback program of up to $1.2 billion (which, at the closing price of May 27, 2025 on the Milan Stock Exchange would represent approximately 74 million shares, or 6.9% of Tenaris’s outstanding shares), to be executed within a year, with the intention to cancel the ordinary shares acquired through the program.
The decision and opportunity of initiating the buyback program is driven by the company’s significant cash flow generation and strong balance sheet.
The buyback program will be carried out under the authority granted by the annual general meeting of shareholders held on May 6, 2025, up to a maximum of 10% of the Company´s shares.
The buybacks may be ceased, paused and continued at any time, subject to compliance with applicable laws and regulations.
Tenaris will provide updates on the buyback program via press releases and on this corporate website. The buybacks will be carried out subject to market conditions and in compliance with applicable laws and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
Share buyback program of up to USD 1.2 billion
Tenaris Terminates Second Tranche of its USD 1.2 Billion Share Buyback Program
USD 600 million Second Tranche of the USD 1.2 Billion Share Buyback Program
Reporting of transactions in accordance with Market Abuse Regulation
Second Tranche of the Share Buyback Program
The list of trades will be published here on a weekly basis. If no update is disclosed for a given week that means no shares were purchased during that week.
USD 600 million First Tranche of the USD 1.2 Billion Share Buyback Program
On June 6, 2025 Tenaris announced that pursuant to its Share Buyback Program (the “Program”) announced on May 27, 2025, covering up to $1.2 billion to be executed in the open market with the intent to cancel the ordinary shares acquired through the Program, Tenaris has entered into a non-discretionary buyback agreement with a primary financial institution (the “Bank”).
The Bank will make its trading decisions concerning the timing of the purchases of Tenaris’s ordinary shares independently of and uninfluenced by Tenaris. The Program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under the buyback agreement, purchases of shares may continue during any closed periods of Tenaris in accordance with the Regulations.
This first tranche of the Program will cover up to USD 600 million (excluding customary transaction fees) and will start on June 9, 2025, and end no later than December 8, 2025. Ordinary shares purchased under the Program will be cancelled in due course.
Any buyback of ordinary shares pursuant to the Program will be carried out under the authority granted by the general meeting of shareholders held on May 6, 2025.
Tenaris to Commence a USD 600 million First Tranche of its USD 1.2 Billion Share Buyback Program
Tenaris completes USD600 million First Tranche of its Share Buyback Program
Reporting of transactions in accordance with Market Abuse Regulation
First Tranche of the Share Buyback Program
The list of trades will be published here on a weekly basis. If no update is disclosed for a given week that means no shares were purchased during that week.