Praxis Precision Medicines general counsel sells $4.8m in shares
HELSINKI - Finnish financial group Sampo Oyj announced on Wednesday it will launch a new €150 million share buyback program using proceeds from the September 26 initial public offering of NOBA Bank Group AB.
The company plans to repurchase up to 20 million of its A shares, representing approximately 1 percent of all Sampo shares, excluding those currently held by the company. The buyback program will commence no earlier than November 6, 2025, and conclude by January 30, 2026.
Sampo had previously indicated during its half-year results presentation that it intended to return funds from NOBA Bank Group's potential listing through a share repurchase program.
The company stated it remains committed to maintaining a strong but efficient balance sheet and evaluates its excess capital annually, with the most recent assessment conducted in August 2025.
According to the terms of the program, shares will be purchased on public trading venues including Nasdaq Helsinki, CBOE, Turquoise, and Aquis. The purchase price will not exceed the highest price paid for Sampo shares in public trading on the repurchase day, or alternatively, the volume-weighted average price over the five trading days preceding the repurchase.
Morgan Stanley has been appointed as the principal broker for the share buyback program and will make trading decisions independently within specified parameters.
The repurchased shares will be canceled as part of Sampo's strategy to reduce its capital. The buyback will be executed using the company's free equity and is based on the authorization granted by the Annual General Meeting held on April 23, 2025, according to the press release statement.
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