Elis at near 4-month high on capital allocation policy, buyback plans

Elis SA

06/03/2025 08:15

** Shares in France's Elis ELIS.PA soar as much as 7.7% to their highest since mid-November after it said it plans a 150 million-euro share buyback program for 2025

** The French company specialising in cleanliness and hygiene also eyes continuation of "bolt-on" acquisitions budgeted between 50 and 150 million euros annually under its new capital allocation policy

** J.P.Morgan analysts say the new policy and buyback programme should be a "key positive surprise" to the market, and drive a re-rating for the stock

** Up to the previous session's close, shares were up 6.5%​ YTD

** Stock up around 6% at 0813 GMT; if gains hold it will see its best day since October

 (Reporting by Mateusz Rabiega)

 ((Mateusz.rabiega@thomsonreuters.com))