(Alliance News) - Next Re SIIQ Spa announced Tuesday that the shareholders authorized the board of directors to buy back a maximum of 2.2 million of its own ordinary shares, equivalent to 20 percent of the company's share capital.

In addition, the shareholders' meeting delegated the board of directors to increase the share capital by a maximum of EUR500 million. The aucap may take place in one or more tranches.

Next Re's stock closed Tuesday down 0.6 percent at EUR3.14 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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