Azenta rises on latest $500 mln share repurchase plan

Azenta

23/11/2022 15:37

** Shares of biotech firm Azenta Inc  AZTA.O  rise ~4% to
$59.80
    ** Co enters into an accelerated share repurchase
agreement(ASR) with JP Morgan Chase to repurchase $500 mln of
its common stock 
    ** Co will receive an initial delivery of nearly 6.1 mln
shares of its common stock on Nov. 28, 2022; expects final
settlement of ASR by the end of fiscal Q3 ended June 30, 2023
    ** Co says the purchase will be in addition to its
previously announced $1.5 bln share repurchase authorization
    ** AZTA also intends to repurchase another $500 mln at least
in common stock over the next year
    ** Including session gains, stock down 48.5% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))