Spain's Repsol SA commenced a share repurchase program for a maximum of 70,368,868 shares, which represents approximately 4.40% of the company's share capital.
In an Aug. 29 notice, Repsol said it will spend a maximum of €1.15 billion for the program that ends Dec. 20.
Repsol's adjusted net profit for the second quarter dropped to €497 million from €549 million a year ago.
