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Software giant Micro Focus launches US$200mln share buyback programme

Between now and 23 October, Micro Focus will buy back up to US$200mln worth of shares from investors. Bosses have hinted they could buy back more shares as well. Software giant Micro Focus International PLC (LON:MCRO) is to buy back US$200mln worth of shares over the next few months, and hinted it would look at purchasing even more. The FTSE 100 group, which sells software to banks and retailers that use legacy IT systems, said it would start buying shares today (Wednesday 17 July) and continue to do so until 23 October.READ: Micro Focus bosses trousers almost £12mln from share sale. The share price has taken a battering so far this month, down by almost a quarter after its half-year results were met with a few groans in the City.

First found on: www.proactiveinvestors.co.uk