Essity's Strategic Buyback of Class B Shares This Week
Essity's Recent Buyback of Class B Shares
During the latest week, Essity Aktiebolag (publ) took a significant step by repurchasing a total of 270,000 of its own Class B shares. This move is part of a larger buyback program initiated by the company's Board of Directors.
Understanding the Buyback Program
The buyback program, which has a substantial budget of SEK 3 billion, was initially announced earlier this year. The aim is to execute the buyback until the next Annual General Meeting in 2025, adhering to the regulations set by the EU Market Abuse Regulation (MAR).
Funding the Buyback
Essity plans to finance this share repurchase using cash flow generated from its ongoing operations. This approach highlights Essity's commitment to returning value to shareholders while ensuring ongoing stability in its capital allocation strategies.
Overview of the Share Purchases
Here's a detailed summary of the share purchases completed throughout the week:
Weekly Transactions in Review
Throughout this week, Essity's transactions were led by Danske Bank on Nasdaq Stockholm. The transactions occurred from September 2 to September 6, 2024, accumulating 270,000 shares in total:
Total shares repurchased: 270,000
Average price per share: 314.6216 SEK
Total transaction value: 84,947,821 SEK
Current Treasury Holdings
As of now, following these transactions, Essity's treasury shares consist of 3,186,000 Class B shares. The company's total number of shares stands at 702,342,489, including 60,412,986 Class A shares and 641,929,503 Class B shares.
For More Information
For any inquiries regarding this buyback announcement, concerned parties can reach out to Sandra Åberg, Vice President of Investor Relations, who can provide further insights. She can be contacted at +46 70 564 96 89.
Frequently Asked Questions
What is the total number of Class B shares Essity repurchased?
Essity repurchased a total of 270,000 Class B shares during this period.
What is the total value of the share buyback program?
The total budget for the buyback program is SEK 3 billion.
When was the buyback program announced?
The buyback program was announced on June 17, 2024.
How is Essity financing the buyback?
Essity is financing the buyback through cash flow derived from its ongoing operations.
Who manages the transactions for Essity's buyback?
Danske Bank manages the share purchase transactions on behalf of Essity.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.