Tenaris S.A. Reports on $700M Share Buyback Program
Ticker: TNRSF · Form: 6-K · Filed: Dec 2, 2024 · CIK: 1190723
| Field | Detail |
|---|---|
| Company | Tenaris SA (TNRSF) |
| Form Type | 6-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, sec-filing, foreign-private-issuer
TL;DR
Tenaris's $700M buyback program is active; check the latest weekly report for details.
AI Summary
Tenaris S.A. filed a Form 6-K on November 29, 2024, reporting on its USD 700 million Share Buyback Program for the week of November 25-29, 2024. The filing was made with the SEC as required for foreign private issuers.
Why It Matters
This filing provides an update on Tenaris's ongoing share repurchase activities, which can signal management's confidence in the company's valuation and potentially impact share price.
Risk Assessment
Risk Level: low — The filing is a routine update on a previously announced share buyback program and does not contain new material financial or operational information.
Key Numbers
- $700 million — Share Buyback Program (Total authorized amount for share repurchases.)
Key Players & Entities
- Tenaris S.A. (company) — Registrant
- USD 700 million (dollar_amount) — Share Buyback Program amount
- November 29, 2024 (date) — Filing date
- November 25, 2024 (date) — Start of reporting period
- November 29, 2024 (date) — End of reporting period
- Giovanni Sardagna (person) — Investor Relations Officer
FAQ
What is the total value of the Share Buyback Program being reported on?
The Share Buyback Program is valued at USD 700 million.
What period does this specific 6-K filing cover?
This filing covers the weekly period from November 25, 2024, to November 29, 2024.
What is the filing date of this report?
The report was filed as of November 29, 2024.
Who signed this report on behalf of Tenaris, S.A.?
Giovanni Sardagna, Investor Relations Officer, signed the report.
What type of SEC filing is this, and what rule does it comply with?
This is a Form 6-K, a Report of Foreign Private Issuer, filed pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934.
Filing Stats: 462 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-02 06:05:19
Filing Documents
- f6k_112924.htm (6-K) — 11KB
- header.jpg (GRAPHIC) — 13KB
- small.jpg (GRAPHIC) — 2KB
- fig1.jpg (GRAPHIC) — 161KB
- 0001171843-24-006636.txt ( ) — 256KB
From the Filing
FORM 6 - K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a - 16 or 15d - 16 of the Securities Exchange Act of 1934 As of November 29, 2024 TENARIS, S.A. (Translation of Registrant's name into English) 26, Boulevard Royal, 4th floor L-2449 Luxembourg (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or 40-F. Form 20-F Ö Form 40-F The attached material is being furnished to the Securities and Exchange Commission pursuant to Rule 13a-16 and Form 6-K under the Securities Exchange Act of 1934, as amended. This report contains Tenaris’s Weekly Report (November 25, 2024 – November 29, 2024) on the USD 700 million Share Buyback Program. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: November 29, 2024 Tenaris, S.A. By: /s/ Giovanni Sardagna Giovanni Sardagna Investor Relations Officer Giovanni Sardagna Tenaris 1-888-300-5432 www.tenaris.com Weekly Report (November 25, 2024 – November 29, 2024) on the USD 700 million Tenaris Share Buyback Program. Luxembourg, November 29, 2024. - Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) (“Tenaris”) announced today that pursuant to its up to USD 700 million Share Buyback Program announced on November 10, 2024, (subject to a maximum of 46,373,915 ordinary shares), to be executed in the open market, it has repurchased the following ordinary shares from November 25, 2024 to (and including) November 29, 2024: From November 25, 2024 to (and including) November 29 2024, the Company has purchased a total of 7,296,512 ordinary shares for a total consideration of €131,471,089, equivalent to USD138,476,705. As of November 29, 2024, the Company held in treasury 68,218,199 ordinary shares (including 53,900,466 ordinary shares bought pursuant to the USD 1.2 billion Share Buyback Program), equal to 5.87% of the total issued share capital. Tenaris intends to cancel treasury shares purchased under the Programs in due course. Details of the above transactions, are available on Tenaris’s corporate website under the Share Buyback Program Section https://ir.tenaris.com/share-buyback-program. Some of the statements contained in this press release are “forward-looking 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.