Kvika Bank's Share Buyback Program Update Revealed
Kvika Bank's Share Buyback Program Update
Recently, Kvika banki hf. announced significant developments related to its share buyback program. In week 10, the bank acquired 16,147,962 of its own shares, amounting to a total expenditure of 322,656,231 ISK. The details of these transactions are outlined below:
Details of Share Purchases
The bank executed several transactions to repurchase its shares. Here’s a summary of the purchases made:
Transaction Summary
The buyback transactions took place over multiple days, revealing noteworthy data points:
- Date: 3rd March 2025, Shares: 2,000,000 at 20.4 ISK, Total: 40,800,000 ISK
- Date: 3rd March 2025, Shares: 347,962 at 20.25 ISK, Total: 7,046,231 ISK
- Date: 4th March 2025, Shares: 2,000,000 at 20 ISK, Total: 40,000,000 ISK
- Date: 4th March 2025, Shares: 2,500,000 at 20 ISK, Total: 50,000,000 ISK
- Date: 4th March 2025, Shares: 2,000,000 at 19.8 ISK, Total: 39,600,000 ISK
- Date: 4th March 2025, Shares: 150,000 at 19.7 ISK, Total: 2,955,000 ISK
- Date: 4th March 2025, Shares: 150,000 at 19.7 ISK, Total: 2,955,000 ISK
- Date: 5th March 2025, Shares: 2,000,000 at 19.9 ISK, Total: 39,800,000 ISK
- Date: 5th March 2025, Shares: 2,000,000 at 19.9 ISK, Total: 39,800,000 ISK
- Date: 5th March 2025, Shares: 3,000,000 at 19.9 ISK, Total: 59,700,000 ISK
Overall Impact
With these transactions, Kvika has now bought back a total of 16,147,962 shares, which represents 0.34% of the company's outstanding shares. The cumulative purchase price stands at 322,656,231 ISK.
Future Plans and Compliance
The buyback initiative is set to run from 27th February 2025 until the annual general meeting in 2026, provided the maximum purchase limit of 2,500,000,000 ISK is not reached before then. However, this program's duration is subject to the extension of the buyback authorization, which will be discussed at the upcoming annual general meeting on 26th March.
Regulatory Compliance
Kvika's buyback must adhere to the Act on Public Limited Companies and the regulations set forth by the European Parliament on market abuse. Furthermore, the program follows the technical standards established by the Commission Delegated Regulation (EU) 2016/1052 regarding buyback programs and stabilization measures.
Contact Information
For additional details or inquiries, stakeholders can reach out to Kvika’s investor relations team via email at ir@kvika.is.
Frequently Asked Questions
What is the purpose of the share buyback program by Kvika bank?
The buyback program is intended to improve shareholder value and manage the bank's capital structure more effectively.
How many shares has Kvika bank repurchased?
Kvika bank has repurchased a total of 16,147,962 shares as part of its buyback initiative.
What is the total amount spent on the share buyback?
The total amount spent on the share buyback so far is 322,656,231 ISK.
Until when will the buyback program continue?
The buyback program is expected to last until the annual general meeting in 2026 unless the maximum purchase limit is reached sooner.
How does Kvika ensure compliance during the buyback?
Kvika follows regulatory requirements set forth by public company laws and relevant EU regulations regarding market practices during its buyback program.
About The Author
Contact Hannah Lewis privately here. Or send an email with ATTN: Hannah Lewis as the subject to contact@investorshangout.com.
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/
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.
