Novo Nordisk A/S Announces Major Share Buyback Program
Novo Nordisk A/S - Share Buyback Initiative
Bagsværd, Denmark – Novo Nordisk has launched an extensive share repurchase initiative as of 7 August 2024. This program is compliant with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) along with the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, commonly referred to as the "Safe Harbour Rules." The goal of this initiative is to repurchase shares valued at up to DKK 20 billion over the course of a 12-month period commencing on 6 February 2024.
Details of the Repurchase Program
As part of the program that started on 7 August 2024, Novo Nordisk plans to repurchase B shares up to a monetary value of DKK 2.4 billion between 7 August 2024 and 4 November 2024. The following summarizes the transactions completed since the announcement of the repurchase:
Transaction Summary
- Accumulated, last announcement: 130,250 B shares; Transaction value: DKK 112,401,277
- 12 August 2024: 40,953 B shares, Average purchase price: DKK 901.93; Transaction value: DKK 36,936,779
- 13 August 2024: 41,000 B shares, Average purchase price: DKK 897.60; Transaction value: DKK 36,801,784
- 14 August 2024: 41,000 B shares, Average purchase price: DKK 904.21; Transaction value: DKK 37,072,721
- 15 August 2024: 40,984 B shares, Average purchase price: DKK 919.71; Transaction value: DKK 37,693,367
- 16 August 2024: 41,000 B shares, Average purchase price: DKK 919.68; Transaction value: DKK 37,707,059
- Accumulated under the program: 335,187 B shares; Total transaction value: DKK 298,612,988
Additional Information on Transactions
Novo Nordisk has reported a net transfer of 14,129 B shares associated with incentive programs from 12 August 2024 to 16 August 2024. It’s important to note that these shares did not form part of the Safe Harbour repurchase initiative.
Company Ownership and Future Prospects
With these transactions, Novo Nordisk currently has a holding of 12,730,944 B shares with a nominal value of DKK 0.10, accounting for approximately 0.3% of the company's share capital. The aggregate number of A and B shares within the company totals 4,465,000,000, including treasury shares.
The company is on track to execute a full buyback of B shares worth up to DKK 20 billion within the previously mentioned 12-month timeframe. As of 16 August 2024, Novo Nordisk has successfully repurchased a total of 11,402,313 B shares, with an average purchase price of DKK 879.32 per share, resulting in a total transaction value of DKK 10,026,319,038.
About Novo Nordisk
Novo Nordisk is a leading global healthcare company focused on combating serious chronic diseases. Established in 1923 and headquartered in Denmark, the company is renowned for its efforts in treating diabetes. The organization is committed to scientific advancements, expanding medicine accessibility, and striving to prevent and potentially cure various diseases.
Novo Nordisk employs approximately 69,000 individuals across 80 nations and markets its products in roughly 170 countries. The B shares of Novo Nordisk are traded on Nasdaq Copenhagen (Novo-B), with its ADRs listed on the New York Stock Exchange (NVO).
Contact Information
For additional inquiries:
- Media Contact:
- Ambre James-Brown, +45 3079 9289, abmo@novonordisk.com
- Liz Skrbkova (US), +1 609 917 0632, lzsk@novonordisk.com
- Investor Relations:
- Jacob Martin Wiborg Rode, +45 3075 5956, jrde@novonordisk.com
- David Heiberg Landsted, +45 3077 6915, dhel@novonordisk.com
- Mark Joseph Root (US), +1 848 213 3219, mjhr@novonordisk.com
- Sina Meyer, +45 3079 6656, azey@novonordisk.com
- Frederik Taylor Pitter, +45 3075 8259, fptr@novonordisk.com
- Ida Schaap Melvold, +45 3077 5649, idmg@novonordisk.com
Frequently Asked Questions
1. What is the purpose of the share buyback program initiated by Novo Nordisk?
The share buyback program aims to repurchase shares valued at up to DKK 20 billion, enhancing shareholder value and manage capital structure.
2. How much has Novo Nordisk repurchased up to the current date?
As of 16 August 2024, Novo Nordisk has repurchased a total of 11,402,313 B shares.
3. What is the average purchase price of the repurchased shares?
The average purchase price of the repurchased shares stands at DKK 879.32 per B share as of the latest update.
4. How many B shares does Novo Nordisk currently hold as treasury shares?
Currently, Novo Nordisk holds a total of 12,730,944 B shares as treasury shares, which is about 0.3% of its share capital.
5. Where are Novo Nordisk's shares traded?
Novo Nordisk's B shares are listed on Nasdaq Copenhagen under the ticker Novo-B, and its ADRs are traded on the New York Stock Exchange as NVO.
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