Truecaller Boosts Shareholder Value with Strategic Buybacks
Truecaller AB is taking active steps to manage its portfolio by implementing a strategic buyback of its B shares. In the week of September 2, 2024, the company repurchased 490,000 shares, which accounts for 0.14% of its available capital. This effort is part of its ongoing share buyback program that commenced earlier this year, during which approximately 2.9 million B-shares have been acquired.
Overview of the Share Buyback Program
This buyback initiative reflects a proactive strategy by Truecaller’s Board of Directors aimed at enhancing shareholder value. The authorization to repurchase B shares was granted during the Annual General Meeting in 2024, permitting the company to buy back up to ten percent of its total outstanding shares before the next meeting scheduled for 2025. This program is set to continue until the upcoming Annual General Meeting in May 2025.
Recent Share Transactions
During week 36 of 2024, Truecaller carried out several transactions on Nasdaq Stockholm with the assistance of its intermediary, Carnegie. Below is a detailed summary of the buybacks:
Total B Shares Repurchased: 490,000
Average Share Price: 34.53 SEK
Total Transaction Value: 16,921,189 SEK
The specifics of the share buybacks for the week are as follows:
- 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 After Buyback
After these transactions, Truecaller now possesses a total of 2,887,832 B-shares and 5,600,000 C-shares, which together represent 2.55% of the company's total outstanding capital. The overall number of shares has reached 353,040,414, with 344,052,582 shares available for trading.
About Truecaller
Truecaller (TRUE B) is a leading global platform dedicated to verifying contacts and preventing unwanted communications. With over 400 million active users and more than a billion downloads since its launch, Truecaller plays a crucial role in fostering trust in everyday communication.
Founded in 2009 and headquartered in Stockholm, Truecaller is led by a committed team with a strong entrepreneurial drive. It was listed on Nasdaq Stockholm in October 2021 and continues to be a significant player in the fight against 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, repurchasing 490,000 B shares during the week of September 2, 2024.
How is the buyback program structured?
The buyback program, which was authorized at the 2024 Annual General Meeting, allows Truecaller to repurchase shares until the next meeting in May 2025, with a limit of ten percent of outstanding shares.
What is the significance of Truecaller’s share buybacks?
The buybacks are designed to enhance shareholder value and demonstrate confidence in the company's financial stability and future growth potential.
What are Truecaller’s total share holdings after the buyback?
Following the recent buybacks, Truecaller holds 2,887,832 B-shares and 5,600,000 C-shares, which amounts 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.
