AABENRAA, Denmark - Sydbank A/S, a prominent Danish bank, has made significant progress in its ongoing share buyback program, according to a recent announcement. The bank has disclosed transactions for week 50 as part of a plan that commenced on March 4, 2024, and is set to conclude by January 31, 2025.
The purpose of the buyback, involving a total of DKK 1.2 billion, is to reduce Sydbank's share capital. This initiative is being conducted in accordance with the EU's Safe Harbour rules, ensuring compliance with market abuse regulations.
During the 50th week, Sydbank acquired 63,000 shares at variable weighted average prices ranging from DKK 360.69 to DKK 378.95. The total expenditure for the week amounted to DKK 23,484,670. This brings the accumulated total to 3,069,000 shares purchased under the program, with a gross value of DKK 1,081,994,110.
Following these recent transactions, the bank now holds 3,069,283 of its own shares, which represents 5.62% of its share capital. The trades were executed by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank A/S, under ISIN DK 0010311471.
This information is based on a press release statement from Sydbank A/S, detailing the transactions as required by market abuse regulations. The bank's transparent reporting of its buyback activities provides shareholders and the market with a clear view of its capital management strategies.
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