Frasers Group announces £70m share buyback, shares surge

(Sharecast News) - Mike Ashley's Frasers Group surged on Monday after announcing a share buyback programme of up to £70m. The company - which owns Sports Direct, House of Fraser and Jack Wills, among others - has entered into an agreement with Barclays to buy up to 10m ordinary shares. The buyback is expected to be completed on 24 April 2026.

The sole purpose of the share purchases is to reduce the company's share capital, Frasers said.

At 0950 GMT, the shares were up 8.5% at 683.00p.