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Geberit to start buyback worth up to 500 mln Swiss francs

ZURICH, Sept 16 (Reuters) - Geberit will launch on Thursday a share buyback worth up to 500 million Swiss francs ($551 million) over two years, the Swiss plumbing materials company said on Wednesday.

The repurchase programme announced in March covers around 2.6% of Geberit’s share capital, it said. The buybacks via a separate trading line on the SIX Swiss Exchange aim to reduce its capital.

$1 = 0.9076 Swiss francs Reporting by Michael Shields; editing by Thomas Seythal

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