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Ferrari repurchases €4.3M of stock

Ferrari NV said Sept. 2 that it repurchased approximately €4.3 million common shares under the second tranche of its share repurchase program, which started July 1.

From Aug. 26-30, the Italian luxury carmaker bought back 17,954 shares from the Italian Stock Exchange for a total consideration price of €2.5 million, excluding fees. It also repurchased 12,500 shares from the New York Stock Exchange during the same period for a total consideration of $2.0 million, or €1.8 million, excluding fees.

The average price per share for the shares bought back in Milan was €141.28, while the average price per share for the shares repurchased in New York was $158.31. When combined and converted, the average price per share for the shares repurchased from both the Italian Stock Exchange and the NYSE is €142.08.

The latest buyback follows the €12.3 million worth of shares repurchased a week prior.

The company has so far repurchased about €71.9 million shares in Milan and $2.0 million shares in New York in the second tranche of its buyback plan announced in December 2018.