LONDON – Barclays has fired the starting gun on a 1 billion pound share buy-back programme aimed at reducing its share capital after refiling accounts with U.S. authorities on Monday.
The British lender was forced to resubmit its 20-F accounts after it discovered in March it had sold more than $15 billion of complex securities than it had permission to sell.
The buy-back, which was put on hold pending the new submission, will commence on Tuesday and end no later than September 30.
Barclays has instructed JP Morgan Securities to conduct the buy-back.
(Reporting By Sinead Cruise, editing by Huw Jones)