ABB Ltd (SWX:ABBN) announces a share repurchase program. Under the program, the company will repurchase up to $1,000 million worth of shares. The purchase price per share will not exceed the higher of the price of the last independent trade on the ordinary trading line on the SIX Swiss Exchange and the highest current independent bid price on the ordinary trading line on the SIX Swiss Exchange.

The purpose of repurchase program is capital reduction. The repurchased shares will be cancelled or will be used in connection with its employee share plans. The repurchase program will continue through January 31, 2025.

As of April 1, 2024, the company had 1,882,002,575 shares issued and 30,000,000 shares in treasury.