Indian BPO firm Genpact has announced a $250 million share repurchase program.
The repurchase program will be funded using available cash or debt facilities, or a combination of the two.
As of June 30, 2016, the company had cash and cash equivalents of approximately $407 million and approximately 209 million common shares outstanding.
The timing and amount of any shares repurchased will be determined by the company’s management based on its evaluation of market conditions and other factors.
Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the company might otherwise be precluded from doing so under insider trading laws.
The company intends to purchase its common shares from time to time on the open market or in privately negotiated transactions.