Compagnie Financière Tradition Announces New 300,000 Shares Buyback Programme

Compagnie Financière Tradition, one of the world's largest interdealer brokers in over-the-counter financial and commodity related products, today announced a new share buyback programme to purchase a total of up to 3.91 % of its own shares, or about CHF 35 million based on current share price.

The programme will be launched on August 21, 2023, and is expected to run until May 31, 2026.

According to the announcement, the share buyback programme allows for a maximum of 300,000 bearer shares, which will be repurchased via a second trading line on the SIX Swiss Exchange, with Compagnie Financière Tradition as the exclusive buyer.

The company further stated that its Board of Directors "intends to propose a capital reduction for the shares that will have been repurchased under the program at a future general meeting".

Compagnie Financière Tradition has performed well financially over the past two years, with consolidated revenues continuing to rise. Earlier this month, the broker released its adjusted financial results for the first semester 2023, recording the consolidated adjusted revenue of CHF 552.4 million, up 11.8% at constant exchange rates on a YoY basis.