Fubotv earnings beat by $0.10, revenue topped estimates
HELSINKI - Finnish financial group Sampo Plc (HE:SAMPO) announced Wednesday it will launch a share buyback program worth €200 million, as part of its capital management strategy.
The program, which will begin no earlier than August 7 and conclude by October 31, 2025, allows for the repurchase of up to 30 million Sampo A shares, representing approximately 1 percent of the company’s total shares.
"Sampo is committed to operating a strong but efficient balance sheet," said Antti Mäkinen, Chair of the Board, in a press release statement. Mäkinen noted the buyback will return "the remaining €200 million of excess capital" generated in 2024.
The company indicated the Board retains the option to increase the program’s size if Sampo successfully generates additional excess capital through the disposal of legacy assets during the second half of the year.
Shares will be acquired through public trading on multiple exchanges including Nasdaq Helsinki, CBOE, Turquoise and Aquis. The company has appointed Morgan Stanley (NYSE:MS) as the lead manager for the program, which will operate independently within the announced parameters.
The repurchased shares will be canceled as part of Sampo’s strategy to reduce its capital. The buyback program is based on authorization granted by the Annual General Meeting held on April 23, 2025.
The purchase price per share will not exceed the highest price paid for Sampo shares in public trading on the repurchase day, or alternatively, the five-day volume weighted average price. The minimum purchase price will be set at 20 percent below the lowest trading price during the authorization period.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.