Harvey Norman Holdings Limited has extended its on-market share buyback program, announcing plans to repurchase up to 10 per cent of its issued shares in a move worth an estimated $900 million.

The Australian retail giant — which operates across homewares, furniture, bedding, appliances, and technology — said the initiative is part of its ongoing capital management strategy. Macquarie Securities has been appointed to manage the buyback, which is based on Friday’s closing share price and could see the company acquire up to 124.6 million shares.

Executive chairman Gerry Harvey said the buyback reflects the board’s view that the current market conditions make it an appropriate use of capital. The company’s share price has surged nearly 60 per cent over the past 12 months.

“The buyback underscores our confidence in Harvey Norman’s financial strength and long-term outlook,” the board said in a statement, adding that it would continue to evaluate growth opportunities while maintaining financial flexibility.

The timing and total volume of shares repurchased will depend on market conditions and share price movements. Harvey Norman said it will provide further updates to the ASX as required but will not make additional comments on the program at this stage.