Ascom Completes Buyback, Cancels 3 Million Shares

Ascom Holding AG (ASCN.SW) said Friday it completed a share capital reduction following its share buyback, repurchasing 3 million registered shares, or 8.3% of its outstanding stock, on a second trading line of the SIX Swiss Exchange for a total of 13.4 million francs. The repurchased shares will be cancelled to reduce the company's share capital. The board plans to carry out the capital reduction under the capital band provisions in Article 3b of the company's Articles of Association. Ascom shares were trading 2.05% lower at $5.72 on the Swiss exchange.