Rightmove announces share re-purchase program of up to £20m

Property portal operated by Rightmove Group Limited, Rightmove, has recently announced a 'close period share re-purchase program.'

Rightmove Group Limited owns and operates online property portal. It offers residential and commercial property to rent and for sell. The company serves estate agents, letting agents, new homes developers, and overseas homes agents. The company was formerly known as Rightmove plc and changed its name to Rightmove Group Limited in January 2008. The company was incorporated in 2000 and is based in Milton Keynes, United Kingdom. Rightmove Group Limited operates as a subsidiary of Rightmove plc.

Buying back shares is well-established practice for Rightmove, and the new program is to run from January 2, until the end of business on February 28.

While the announcement is only a standard piece of house-keeping, tit  does underline the amounts that Rightmove is prepared to invest in buying back its own shares – up to £10m a month.

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