Spar Nord Bank's Weekly Buyback Program Results and Insights
Understanding Spar Nord Bank's Share Buyback Program
Spar Nord Bank has been engaging in share buyback initiatives that significantly affect its market presence and investor confidence. Through a recent announcement, the bank has set a program aiming to repurchase shares valued at up to DKK 500 million, underscoring its commitment to enhancing shareholder value.
The Purpose Behind the Buyback
The primary goal of this buyback initiative is to decrease the bank's overall share capital by purchasing back its shares. This action not only optimizes the equity structure but also aligns with the guidelines set forth in the Market Abuse Regulation.
Transaction Highlights from Week 37
In the past week, Spar Nord Bank executed several transactions as part of its buyback scheme:
Summary of Weekly Transactions
During this reporting period, a total of 78,500 shares were bought back with a cumulative transaction value reaching DKK 10,000,607. This brings the total accumulated shares repurchased under the current initiative to 2,317,797 shares.
Daily Breakdown of Purchases
Here’s a closer look at the transactions that occurred over the course of the week:
On September 9, 2024, the bank acquired 16,000 shares at an average price of DKK 127.72, leading to a total transaction value of DKK 2,043,520.
The following day, September 10, 2024, saw 15,900 shares purchased at DKK 126.43, equating to DKK 2,010,237.
As the week progressed, on September 11, 2024, Spar Nord Bank acquired another 15,700 shares at an average price of DKK 126.55 for a total of DKK 1,986,835.
Continuing this momentum, on September 12, the bank bought 15,900 shares at DKK 127.85, which amounted to DKK 2,032,815.
Lastly, on September 13, 2024, a total of 15,000 shares were repurchased at DKK 128.48, amounting to DKK 1,927,200.
Total Holdings and Investors' Impact
With these transactions, Spar Nord Bank currently holds 2,357,797 treasury shares, which represents approximately 2.00% of its total share capital. This strategic move not only boosts the bank’s image in the financial market but also assures shareholders of its strong footing during fluctuating market conditions.
Engagement with Investors
The effectiveness of a buyback program often hinges on clear communication with investors. Rune Brandt Børglum, the Head of Investor Relations, emphasizes the importance of transparency throughout the process. Stakeholders can reach out to him directly with any inquiries related to these transactions.
Frequently Asked Questions
What is the main goal of Spar Nord Bank's buyback program?
The main goal is to reduce share capital and enhance shareholder value.
How many shares have been bought back so far?
As of the latest report, Spar Nord Bank has repurchased a total of 2,317,797 shares.
What was the total value of shares bought back last week?
Last week, the total value of shares bought back was DKK 10,000,607.
Who can I contact for more information about the share buybacks?
For any inquiries, you can contact Rune Brandt Børglum, the Head of Investor Relations.
What are treasury shares?
Treasury shares are shares that were once a part of the outstanding shares of a company but were later repurchased by the company itself.
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