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Cielo board approves buyback program for up to 400,000 shares

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Cielo board approves buyback program for up to 400,000 shares

The board at Brazilian card processor Cielo SA approved a share buyback program for the repurchase of up to 400,000 common shares without par value at market price.

The program, which will run from Sept. 2 to Sept. 10., aims to meet commitments made by the company under its compensation, retention and incentive programs with employees.

In February, Cielo's board approved two share repurchase programs, through which the company will be authorized to acquire up to 2,170,000 non-par common shares at market price.