Huntsman Doubles Size Of Share Buyback Authorization To $2 Bln

(RTTNews) - Huntsman Corp. (HUN), a chemical products maker, said on Monday that its board of directors has authorized a doubling of its current share buyback drive to $2 billion from $1 billion.

Based upon current market conditions, the company intends to repurchase around $1 billion of the now remaining $1.9 billion in stock in 2022. As of December 31, 2021, the chemical firm had already repurchased $102 million of shares under the original program.

The additional $1 billion of authorized repurchases, or $1.9 billion in the aggregate, reflects around 25 percent of Huntsman's market capitalization as of March 25.

Huntsman said it had $2.5 billion in liquidity at the end of last year.