Truecaller Announces Successful Share Buyback Program Updates
Truecaller Enhances Shareholder Value through Buybacks
Truecaller AB is actively managing its portfolio by engaging in a strategic buyback of its B shares. During the week of September 2, 2024, the company repurchased a total of 490,000 shares, representing 0.14% of available capital. This initiative aligns with its ongoing share buyback program that began earlier this year, which has seen the acquisition of approximately 2.9 million B-shares since its launch.
Details of the Share Buyback Program
The buyback initiative has been a proactive move by Truecaller’s Board of Directors to enhance shareholder value. The authorization for repurchasing B shares was granted at the Annual General Meeting in 2024, allowing the company to buy back up to ten percent of its total outstanding shares before the next meeting in 2025. This program is expected to continue until the upcoming Annual General Meeting in May 2025.
Recent Share Transactions
In week 36 of 2024, Truecaller executed multiple transactions on Nasdaq Stockholm through its intermediary, Carnegie. Here’s a detailed breakdown of the buybacks:
Total B Shares Repurchased: 490,000
Average Share Price: 34.53 SEK
Total Transaction Value: 16,921,189 SEK
Details of the share buybacks for the week include:
- September 2: 60,000 shares at 35.03 SEK
- September 3: 75,000 shares at 34.68 SEK
- September 4: 75,000 shares at 34.67 SEK
- September 5: 50,000 shares at 34.66 SEK
- September 6: 230,000 shares at 34.28 SEK
Company Holdings Post Buyback
Following these transactions, Truecaller now holds a total of 2,887,832 B-shares and 5,600,000 C-shares, which together constitute 2.55% of the company's total outstanding capital. The company’s total number of shares has reached 353,040,414, with 344,052,582 shares available for trading.
About Truecaller
Truecaller (TRUE B) stands as a preeminent platform worldwide focused on verifying contacts and preventing undesired communication. With over 400 million active users and more than a billion downloads achieved since its inception, Truecaller plays an essential role in enhancing trust in everyday communication.
Founded in 2009 and based in Stockholm, Truecaller is managed by a dedicated leadership team with a strong entrepreneurial spirit. It was listed on Nasdaq Stockholm in October 2021 and continues to be a substantial force in combating unwanted calls, having blocked around 50 billion fraudulent calls in 2022.
Frequently Asked Questions
What recent actions has Truecaller taken regarding its shares?
Truecaller has initiated a buyback program where it has repurchased 490,000 B shares during the week of September 2, 2024.
How is the buyback program structured?
The buyback program, authorized at the 2024 Annual General Meeting, allows Truecaller to repurchase shares until the upcoming meeting in May 2025, with a ceiling of ten percent of outstanding shares.
What is the significance of Truecaller’s share buybacks?
The buybacks are intended to enhance shareholder value and signal confidence in the company’s financial health and future prospects.
What are Truecaller’s total share holdings post-buyback?
After the recent buybacks, Truecaller holds 2,887,832 B-shares and 5,600,000 C-shares, amounting to 2.55% of its outstanding capital.
How many total shares does Truecaller have?
Truecaller has a total of 353,040,414 shares, with 344,052,582 of these being outstanding shares available for trading.
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