Ryanair and Paddy Power Betfair buy back more shares

Ryanair and Paddy Power Betfair on Monday repurchased more stock under their respective share buyback schemes.

The airline, which announced its €750 million share buyback scheme in February, said it purchased 328,900 shares for an average price of €12.9569, totalling about €4.26 million.

The scheme, which is led by brokers Citigroup and Davy, is due to end on November 9th.

Elsewhere, Paddy Power Betfair bought back 18,899 of its own shares through its broker Goldman Sachs.

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The purchases form part of the company’s £500 million share buyback programme, which was announced in late May.

The maximum number of ordinary shares to be repurchased under the programme is expected to reach 12,692,692.

In London, the average price paid was £81.0836, while in Ireland the average was €91.1252.

The betting company, in total, paid about £5 million in the UK and €1.16 million in Ireland for the ordinary shares.

Following the cancellation of the ordinary shares repurchased, Ryanair said it will have 1.14 billion ordinary shares in issue. The number of Paddy Power shares in issue amounts to 82.9 million after the recent purchases.