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Nordea completes share buyback, holds millions of treasury shares

EditorAmbhini Aishwarya
Published 11/24/2023, 03:31 AM
© Reuters.

Nordea Bank Abp (OTC:NRDBY) has completed a significant phase of its share repurchase program, which was publicly disclosed on the morning of today. The bank now holds a substantial number of treasury shares, acquired as part of a EUR 1 billion initiative that was authorized by their Annual General Meeting earlier this year. These shares are earmarked for capital optimization and employee remuneration purposes.

The repurchase transactions occurred across various exchanges, including XHEL, with Morgan Stanley Europe SE managing the recent acquisitions. The finalized share repurchases were conducted in public trading by late Thursday evening, utilizing foreign exchange rates SEK-EUR at 11.4422 and DKK-EUR at 7.4551.

As a result of these repurchases, Nordea's treasury stocks now stand at 2,391,324 for capital reasons and an additional batch of 4,787,315 shares has been set aside for remuneration.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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