Genpact Limited (NYSE: G), a digitally powered business process management and services, board of directors has approved a USD250 million share repurchase program, bringing the total authorization under its existing program to USD500 million.
The company intends to purchase its common shares from time to time on the open market or in privately negotiated transactions. The company has completed USD250 million in share repurchases under the share repurchase program first announced in February 2015.
The timing and amount of any shares repurchased will be determined by the company´s management based on its evaluation of market conditions and other factors.
The repurchase program will be funded using available cash or debt facilities. As of December 31, 2015, the company had cash and cash equivalents of approximately USD451 million and approximately 211.5 common shares outstanding.