06:46 AM EDT, 05/28/2025 (MT Newswires) -- British American Tobacco ( BTI ) said Wednesday that it has completed the sale of 313 million ITC shares, representing about 2.5% share capital, through a block trade to institutional investors.

The company said the accelerated block trade raised net proceeds of 121 billion Indian rupees ($1.42 billion).

British American Tobacco ( BTI ) said it will use part of the proceeds to expand its 2025 share buyback program by 200 million pounds ($270.3 million), bringing the total planned repurchase to 1.1 billion pounds.

The sale does not affect the company's 2025 or 2026 financial guidance, it said.