03:37 PM EDT, 04/04/2024 (MT Newswires) -- Eni (E) said Thursday it plans to launch a new buyback program of 1.1 billion euros ($1.19 billion) of treasury shares in 2024, which may be increased up to 3.5 billion euros.

A maximum amount of 328 million shares, or about 10% of Eni's share capital, can be repurchased under the program, the company said.

Eni said it will submit a proposal to the shareholders' meeting in May to authorize the repurchase until the end of April 2025.

Shares of the company rose 1.4% in recent trading.

Price: 33.20, Change: +0.43, Percent Change: +1.31