Tenaris to Commence a USD 600 million Second Tranche of its USD 1.2 Billion Share Buyback Program
Rhea-AI Summary
Tenaris (NYSE: TS) announced a USD 600 million second tranche of its USD 1.2 billion share buyback program to be executed by a bank under a non-discretionary buyback agreement.
The tranche will start on November 3, 2025 and end no later than April 30, 2026. Purchases will comply with EU market abuse rules and may continue during closed periods. Ordinary shares bought under the Program will be cancelled. The buyback is carried out under authority granted by the general meeting of shareholders on May 6, 2025. The company cautions that forward-looking statements are subject to risks including oil and gas price uncertainty.
Positive
- Second tranche size: USD 600 million
- Execution window: Nov 3, 2025 to Apr 30, 2026
- Ordinary shares purchased will be cancelled
- Buyback authorized by shareholders on May 6, 2025
Negative
- Buyback excludes customary transaction fees reducing net program value
- Purchases may continue during closed periods under the Regulations
- Forward-looking risks include uncertain oil and gas prices
Insights
Tenaris launches the second
Tenaris has contracted a primary financial institution to execute a non‑discretionary buyback for the remaining
Mechanically, this reduces share count if fully executed and returns capital to holders without stating pricing details or schedule. Execution depends on the Bank's trading decisions and regulatory compliance, and the company cites commodity price uncertainty as a risk to outcomes. Watch the progress of purchases through company disclosures between
LUXEMBOURG, Nov. 02, 2025 (GLOBE NEWSWIRE) -- Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its USD 1.2 billion Share Buyback Program (the “Program”) announced on May 27, 2025, it has entered into a non-discretionary buyback agreement with a primary financial institution (the “Bank”) for the execution of its second tranche, covering up to the remainder USD 600 million of the Program (excluding customary transaction fees). This second tranche shall start on November 3, 2025, and end no later than April 30, 2026.
The Bank will make its trading decisions concerning the timing of the purchases of Tenaris’s ordinary shares independently of and uninfluenced by Tenaris. The Program will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under the buyback agreement, purchases of shares may continue during any closed periods of Tenaris in accordance with the Regulations.
Ordinary shares purchased under the Program will be cancelled in due course.
Any buyback of ordinary shares pursuant to the Program will be carried out under the authority granted by the general meeting of shareholders held on May 6, 2025.
Some of the statements contained in this press release are “forward-looking statements”. Forward-looking statements are based on management’s current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements. These risks include but are not limited to risks arising from uncertainties as to future oil and gas prices and their impact on investment programs by oil and gas companies.
Tenaris is a leading global supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications.
Giovanni Sardagna
Tenaris
1-888-300-5432
www.tenaris.com
FAQ
What is the size of Tenaris's second buyback tranche (TS)?
When will Tenaris (TS) execute the second buyback tranche?
Will Tenaris (TS) cancel shares repurchased in the buyback?
Who executes the buyback for Tenaris (TS) and who decides timing?
Under what authority is Tenaris (TS) carrying out the buyback?
Are there regulatory or risk considerations for Tenaris's (TS) buyback?
