M&G PLC (LSE:MNG) said it launched its £500mln share buyback programme in a bid to reduce its share capital.
Shares will be repurchased until March 23, 2023.
The savings and investments business spun out from insurance giant Prudential announced its buyback programme on March 8.
The FTSE 100 company said the buyback will enhance earnings per share.
Goldman Sachs (NYSE:GS) is agent for the programme.