Reglikedomain industry desk

Expands share buyback program — CentralNic massively

Expands share buyback program — CentralNic massively

Firm now plans to spend up to £34 on shares.

CentralNic (AIM: CNIC) plans to return a lot more capital to shareholders via share buybacks than previously planned.

Regarding six weeks ago, the firm disclosed its second-ever buyback program totaling £4 million. Just a little over a month later, the firm now states it will spend up to £34 million buying shares on the open market. That is equal to regarding 10% of the firm’s current market capitalization.

CentralNic is a rollup of domain name and online advertising firms. Until recently, it reinvested all of its cash flow into fresh acquisitions. But the firm is shifting strategies and returning more capital to shareholders.

You can learn more regarding the firm and its updated strategy in DNW Podcast #422 with CentralNic CEO Michael Riedl.

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