07:27 AM EST, 11/13/2024 (MT Newswires) -- Flutter Entertainment ( FLUT ) said Wednesday that it has engaged Goldman Sachs ( GS ) to repurchase up to $350 million of its shares on the New York Stock Exchange, starting Thursday, and concluding by March 31, 2025.

The buyback aims to reduce Flutter's share capital and marks the first tranche of a $5 billion repurchase program approved by the board in September, the company said, adding that this initial buyback could result in the acquisition of up to 17.7 million ordinary shares.

Shares of the company were up nearly 5% in recent Wednesday premarket activity.

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