Kongsberg Automotive to Buy Back 10% of Its Shares Starting in Q1

Donnerstag, 09.12.2021 17:40 von PLX

• (PLX AI) – Kongsberg Automotive announced a 10% buy back of shares at their Capital Markets Day.
• • The divestments announced in October are expected to close towards the end of the first quarter, at which point the proceeds will be used to buy back 10% of the company’s shares, reduce outstanding debt, and invest in new technology and innovation, the company said in a release
• • Kongsberg Auto also said portfolio transformation will reduce the company’s exposure to highly volatile passenger car segment, focusing further on specialty products, commercial vehicles and new adjacent product areas