AABENRAA, Denmark – Sydbank A/S, the Danish financial services group, reported transactions in the third week of its ongoing share buyback program aimed at reducing the company’s share capital. The return initiative, which started on 4 March 2024, follows the guidelines of the European Union’s Safe Harbor rules and is due to end by 31 January 2025.
During the third week, Sydbank repurchased a total of 60,000 shares at an average price of DKK 375.41 to DKK 378.83, amounting to a gross value of DKK 22,621,200. This brings the total number of accumulated shares bought back under the program to 3,348,000, with a total value of DKK 1,186,257,800.
The transactions were carried out on the Nasdaq Copenhagen stock exchange under ISIN DK 0010311471, with Danske Bank (CSE:) A/S acting on behalf of Sydbank A/S. Following these recent acquisitions, Sydbank now owns a total of 3,350,124 own shares, which corresponds to 6.13% of the bank’s total share capital.
The share buyback program was originally announced on February 28, 2024 and has a total allocation of DKK 1,200 million. The program is implemented within the regulatory framework established by the EU Regulation on Market Abuse and the Delegated Regulation of the Commission, which ensures compliance with the rules on market abuse and transparency.
This update is based on a Sydbank A/S press release.
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