AABENRAA, Denmark - Sydbank A/S has concluded its share buyback program, initially announced on February 28, 2024, and planned to end by January 31, 2025. The Danish bank successfully repurchased a total of 3,383,960 of its own shares at an approximate transaction value of DKK 1.2 billion. The buyback aimed to reduce the bank's share capital and was conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, collectively known as the Safe Harbour rules.
During the final week of the program, from January 20 to January 24, 2025, Sydbank acquired 35,960 shares at an average purchase price ranging from DKK 382.28 to DKK 382.46 per share, totaling DKK 13.74 million. With these transactions, Sydbank now holds 3,385,079 of its own shares, corresponding to 6.20% of the bank's total share capital.
The transactions were carried out under the ISIN code DK 0010311471 by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank A/S. Further details about the transactions are disclosed in accordance with Article 5 of the Market Abuse Regulation and the Commission Delegated Regulation.
This completion of the share buyback program is part of Sydbank's capital adjustment strategy, reflecting the bank's ongoing efforts to optimize its capital structure. The repurchased shares contribute to the bank's treasury shares, which may be used for future capital reductions or other corporate purposes.
The information presented in this article is based on a press release statement from Sydbank A/S.
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