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Holcim launches share buyback of up to 2 billion Swiss francs

Logo of Swiss cement maker Holcim is seen in Zug

ZURICH (Reuters) - Holcim will launch on Monday its previously announced share buyback programme worth up to 2 billion Swiss francs ($2.08 billion), the cement group said on Friday.

Holcim plans to repurchase up to 40 million shares until May 2023, to be approved for cancellation at the annual general meeting in May 2023. The volume of monthly share buybacks would depend on market conditions, it said.

($1 = 0.9634 Swiss francs)

(Reporting by Michael Shields, editing by John Revill)