RIO DE JANEIRO - Vinci Partners Investments Ltd. (NASDAQ:VINP), a prominent alternative investment platform in Brazil, has launched a new share buyback plan. The board of directors has authorized the repurchase of up to R$60.0 million of its Class A common shares. The initiative, which began today, will proceed without a set expiration date, concluding only once the buyback limit is reached.
This new buyback plan supersedes the previous plans that were established on February 14, 2023, and have since been completed upon reaching their monetary limit. Vinci Partners plans to fund the buybacks with available cash from its Distributable Earnings, a move that is not anticipated to significantly affect the company's capital levels.
The repurchase program will be conducted on an opportunistic basis, following market conditions and other relevant factors. Transactions may occur in the open market or through privately negotiated purchases, adhering to SEC Rule 10b-18 and Rule 10b5-1 guidelines. The timing, volume, and pricing of buybacks will be determined at the company's discretion. However, there is no obligation for Vinci Partners or its agents to acquire a specific number of shares, and the program may be suspended or discontinued at any time.
As of February 6, 2024, Vinci Partners reported having 39,312,578 Class A common shares issued and outstanding.
Vinci Partners, established in 2009, operates across various sectors, including private equity, public equities, real estate, credit, infrastructure, hedge funds, and special situations. The company also provides corporate advisory services, primarily to Brazilian middle-market companies preparing for initial public offerings (IPOs) or engaging in mergers and acquisitions (M&A).
The press release also contains forward-looking statements regarding the company's expectations, which are subject to uncertainties and risks. Vinci Partners does not commit to updating any forward-looking statements, which should not be seen as guarantees of future performance.
This report is based on a press release statement from Vinci Partners Investments Ltd.
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