Dutch health technology company Royal Philips said that it will repurchase up to 7.1 million shares to cover certain of its obligations arising from its long-term incentive plans.
At the current share price, the shares represent an amount of up to about €132 million ($142 million).
The repurchases will be executed through one or more individual forwardtransactions, expected to be entered into in the second and/or the third quarterof 2023.
Philips expects to take delivery of the shares in 2024 and 2025.
