GlobalData launching £10m buyback, working on main market move

(Sharecast News) - GlobalData said in an update on Monday that it would launch a £10m share buyback this week, while it reaffirmed its commitment to moving to the London Stock Exchange Main Market as it hosted its 2025 capital markets event for analysts and investors in London. The AIM-traded company said the new £10m buyback followed a £60m return of capital via tender offer in September and £39.7m of share repurchases in the first half of the year.

It said its objective remained to achieve long-term compounding profit growth to enhance shareholder value.

The firm said the capital markets event, held at JP Morgan Private Bank, would focus on recent developments in its platform, with a particular focus on investments in AI-enablement and the resulting improvements to client engagement and user experience.

It said chief executive Mike Danson would outline the group's growth strategy, while senior leaders would present on GlobalData's AI agenda, proprietary data assets and customer impact, supported by live demonstrations and case studies.

GlobalData stressed that no new material information would be disclosed and that it would not comment on current trading ahead of its full-year results.

The group reiterated that it remained in a strong financial position, generating robust operating cash flow and making encouraging progress on contracted revenue and subscription growth, supported by its growth transformation plan.

GlobalData also confirmed it was preparing for its proposed shift to the main market, and expected to provide an update on timing in the week of 12 January.

At 1130 GMT, shares in GlobalData were up 9.22% at 109p.

Reporting by Josh White for Sharecast.com.