Nova Ltd. authorized a new share repurchase program for up to $200 million of its ordinary shares. The company will fund the buybacks using available cash reserves.
Transactions may occur through open market purchases or privately negotiated deals. The board of directors will determine the specific timing and volume based on market conditions.
CEO Gaby Waisman stated the program reflects confidence in the company's long-term growth strategy and financial position. The initiative allows Nova to return value to shareholders while maintaining capital for strategic acquisitions.
Nova shares increased in pre-market trading following the announcement, according to MarketScreener.