Smiths Group plc (SMIN) has announced the purchase of 554,241 ordinary shares on the London Stock Exchange between 2 and 4 November 2026, executed through HSBC Bank plc. The transactions mark the completion of the £700m buyback tranche — itself combining the final £400m of a £1bn programme announced in November 2025 and the initial £300m of the £1.5bn programme announced on 30 June 2026. Smiths Group will now commence the second £500m tranche of its £1.5bn share buyback programme, a development investors in the industrial engineering company are likely to monitor closely.

Key Points

  • Smiths Group plc (SMIN) is a London-listed industrial engineering company operating in flow control, thermal solutions, construction, and aerospace.
  • The company purchased 554,241 ordinary shares of 37.5 pence each via HSBC Bank plc across three trading days: 2, 3, and 4 November 2026.
  • The purchases complete the £700m buyback tranche; the second £500m tranche of the £1.5bn programme will now begin.
  • Investors should watch for further buyback transaction announcements as the new £500m tranche gets under way.

Smiths Group Purchases 554,241 Shares Via HSBC Across Three Trading Days

Between 2 and 4 November 2026, Smiths Group purchased its ordinary shares across multiple trading venues, including the London Stock Exchange (XLON), Cboe BXE (BATE), Chi-X (CHIX), Aquis Exchange (AQXE), and Turquoise (TRQX). On 2 November, volume weighted average prices across venues ranged from approximately 2,730p to 2,737p per share, with individual share prices ranging from a low of 2,699p to a high of 2,761p. By 4 November, weighted average prices had eased to approximately 2,695p to 2,697p per share, with the lowest price paid standing at 2,674p and the highest at 2,717p across venues.

£700m Tranche Completed, Combining Final Leg of £1bn Programme and Opening of £1.5bn Programme

The announcement confirms that Smiths Group has now completed the £700m buyback tranche, which comprised two distinct components: the final £400m tranche of the £1bn share buyback programme announced on 19 November 2025, and the initial £300m of the larger £1.5bn share buyback programme announced on 30 June 2026. The buyback instructions were originally issued and announced on 6 July 2026, with HSBC Bank plc executing the purchases. Acquired shares may be either cancelled or held in treasury, at the company's discretion, as stated in the announcement.

Second £500m Tranche of £1.5bn Buyback Programme Set to Begin

With the £700m tranche now completed, Smiths Group states it will commence the second £500m tranche of the £1.5bn share buyback programme. This signals continued capital returns activity for shareholders and reflects the scale of the overall programme, which totals £1.5bn. For a company with a 175-year operating history focused on industrial engineering across sectors including decarbonisation and process efficiency, sustained buyback programmes of this magnitude represent a significant ongoing capital allocation commitment that investors in SMIN will be watching carefully.

Regulatory Compliance Under UK Market Abuse Regulation

The transactions were conducted in accordance with Article 5(1)(b) of Regulation (EU) No 596/2014, as incorporated into UK domestic law via the European Union (Withdrawal) Act 2018 — commonly referred to as UK MAR. Full individual trade breakdowns, as required under this regulation, have been provided by HSBC and form part of the disclosure. Smiths Group's Legal Entity Identifier (LEI) is listed as 213800MJL6IPZS3ASA11. The company's investor relations contacts are Siobhán Andrews and Ana Pita da Veiga, with governance queries directed to Lucy Glover, Director of Governance.