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ATHENS - Hellenic Telecommunications Organization S.A. (OTE), the Greek telecom giant, has reported the purchase of 212,347 of its own shares between May 5 and May 9, as part of its 2025 Share Buy Back Programme. The company spent a total of €3,582,132.63 on the buyback, with the average price per share standing at €16.86924.
The buyback initiative saw OTE acquiring shares at prices ranging from €16.81 to €16.98. The largest single-day purchase was on Friday, with 59,000 shares bought at an average price of €16.87550. The company’s actions have increased its holdings of own shares to 9,063,093, which represents 2.196% of its total outstanding shares.
This strategic move is in line with the EU’s market regulations, specifically Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, which govern share buyback programs and disclosure requirements. These regulations ensure transparency and fairness in the market, providing investors with critical information on corporate activities that may influence share value.
OTE’s announcement of the share buyback provides investors and the market with insights into the company’s capital allocation strategies. Share buybacks can often signal a company’s confidence in its own financial health and future prospects, as well as potentially providing support for the share price by reducing the supply of shares available in the market.
The purchase of own shares is a common practice among publicly traded companies, allowing them to return value to shareholders, optimize their capital structure, or meet obligations related to employee share schemes. OTE’s recent buyback falls within these strategic objectives.
Investors and market watchers will be observing the impact of this buyback on OTE’s share performance in the Athens Stock Exchange, where the company’s shares are traded. The information disclosed is based on a press release statement from the company.
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