By Adam Clark

Koninklijke Philips NV (PHIA.AE) on Monday said that it is launching a share buyback of up to 150 million euros ($174.2 million) in order to cover its long-term incentive and employee stock purchase plans.

The Dutch technology company said the buyback will begin at the end of October and finish before the end of 2017, with 4.3 million shares to be repurchased at current prices.

Philips added that is also conducting its previously announced EUR1.5 billion share buyback for capital reduction purposes at the same time. This buyback began in the third quarter of 2017 and will continue for two years.

Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

October 30, 2017 03:30 ET (07:30 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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