Alcon announces shares buy-back scheme
This article was originally published in Clinica
Alcon is planning to repurchase up to one million shares from its investors by the end of 2008, the proceeds of which will be used to pay employee compensation plans. The ophthalmic products company, headquartered in Switzerland and the US, has around 70 million shares that are publicly traded, out of a total 300 million outstanding shares. The firm said the buy-back plan will not have a material effect on the interest percentages of its two major shareholders – Nestlé, which has a 52% stake, and Novartis, which has 25%.