Yara buys back its outstanding shares
The Norwegian producer of mineral fertilizers Yara International (hereinafter – Yara) intends to buy back up to 0.5% of its free-float shares by the end of this year.
In total, as part of the buyback and redemption program, Yara plans to buy up to 5% of shares. Ultimately, its management targets to ensure that the net debt / equity ratio is below 0.6.
Thus, Yara top managers want to provide an acceptable capital structure that ensures stable repayment of previously taken loans and borrowings and financing of investment projects.