News

Cargotec Corporation Provides Details on Share Repurchase

Cargotec Corporation Provides Details on Share Repurchase

Cargotec Corporation Share Repurchase

Cargotec Corporation has provided insights into its latest share repurchase. This transaction, executed on the Helsinki Stock Exchange, aligns with the company's strategic approach to managing its shares. Renowned for its cutting-edge cargo handling solutions, Cargotec is committed to reinforcing its position in the market.

Transaction Overview

The share repurchase occurred on August 29, 2024, as part of Cargotec's ongoing buyback program. Under this initiative, the company successfully acquired 9,000 shares. The average price paid for each share was about 47.1904 EUR, resulting in a total expenditure of 424,713.60 EUR.

Details of the Repurchase

Here are the key details regarding the repurchase:

  • Trade Date: August 29, 2024
  • Bourse Trade: Buy
  • Share Code: CGCBV
  • Amount: 9,000 Shares
  • Average Price/Share: 47.1904 EUR
  • Total Cost: 424,713.60 EUR

Total Shareholding

As a result of this recent transaction, Cargotec Corporation now holds a total of 542,050 shares. This figure includes the shares repurchased in the latest trading session.

Company Overview

Cargotec Corporation operates mainly through its subsidiaries, Hiab and MacGregor, which focus on delivering advanced cargo flow solutions. Hiab is dedicated to sustainable on-road load handling, while MacGregor excels in maritime cargo handling. Together, these divisions aim to enhance efficiency in cargo management.

Performance Highlights

In 2023, Cargotec reported sales of around 2.5 billion EUR, demonstrating its profitability and resilience in a competitive landscape. The company takes pride in its dedicated workforce, which consists of over 6,000 employees committed to providing exceptional service and innovation in cargo handling.

Contact Information

For any further inquiries, please reach out to:

Aki Vesikallio
Vice President, Investor Relations
Phone: +358 40 729 1670

Frequently Asked Questions

What was the total number of shares repurchased by Cargotec?

Cargotec repurchased a total of 9,000 shares in the recent transaction.

What is the average purchase price of the repurchased shares?

The average purchase price of the shares was approximately 47.1904 EUR each.

How much did Cargotec spend on the share repurchase?

The total expenditure for the share repurchase was 424,713.60 EUR.

What is the current total shareholding of Cargotec post-repurchase?

After the share repurchase, Cargotec's total shareholding stands at 542,050 shares.

Who can be contacted for more information regarding Cargotec's share activities?

For more details, Aki Vesikallio, Vice President of Investor Relations, can be contacted at +358 40 729 1670.

About The Author

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The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

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