Novo Nordisk A/S - Share Buyback Initiative
Bagsværd, Denmark – As of 7 August 2024, Novo Nordisk has kicked off a significant share repurchase program. This initiative adheres to Article 5 of Regulation No 596/2014 from the European Parliament and Council, dated 16 April 2014 (MAR), as well as the Commission Delegated Regulation (EU) 2016/1052 from 8 March 2016, often referred to as the "Safe Harbour Rules." The primary objective of this program is to repurchase shares worth up to DKK 20 billion over a 12-month period starting from 6 February 2024.
Details of the Repurchase Program
Beginning on 7 August 2024, Novo Nordisk intends to buy back B shares valued at up to DKK 2.4 billion between 7 August 2024 and 4 November 2024. Below is a summary of the transactions that have taken place since the announcement of this buyback:
Transaction Summary
- Accumulated since 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 also reported a net transfer of 14,129 B shares related to incentive programs between 12 August 2024 and 16 August 2024. It’s essential to highlight that these shares are not part of the Safe Harbour repurchase initiative.
Company Ownership and Future Prospects
Following these transactions, Novo Nordisk now holds 12,730,944 B shares with a nominal value of DKK 0.10, which represents about 0.3% of the company’s total share capital. The overall count of A and B shares in the company amounts to 4,465,000,000, including treasury shares.
The company is progressing towards a complete buyback of B shares valued at up to DKK 20 billion within the designated 12-month period. 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 cumulative transaction value of DKK 10,026,319,038.
About Novo Nordisk
Novo Nordisk is a prominent global healthcare company dedicated to addressing serious chronic diseases. Founded in 1923 and based in Denmark, the company is well-known for its contributions to diabetes treatment. Novo Nordisk is committed to advancing scientific research, improving access to medicines, and working towards the prevention and potential cure of various diseases.
With a workforce of around 69,000 employees across 80 countries, Novo Nordisk markets its products in approximately 170 nations. The company’s B shares are traded on Nasdaq Copenhagen (Novo-B), and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NVO).
Contact Information
For further 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 managing 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.
