Driven Brands up on share repurchase plan

Driven Brands Holdings

23/08/2023 14:51

** Shares of Driven Brands  DRVN.O  rise 2.7% to $14.75 
    ** Auto services firm announces it will repurchase up to $50
mln of outstanding shares through March 31, 2025
    ** Number of shares to be bought are nearly 30% of co's
outstanding shares of 167.5 mln, as of last close
    ** Co to fund share repurchase through cash on hand, cash
flow from operations and credit
    ** Stock had fallen 47% YTD

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))