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AABENRAA, Denmark - Sydbank A/S (CPH:SYDB) announced Monday it has repurchased 60,000 of its own shares during the past week as part of its ongoing share buyback program.
The Danish bank acquired the shares between July 28 and August 1 at an average price ranging from DKK 478.02 to DKK 486.43 per share, for a total weekly expenditure of approximately DKK 28.9 million.
According to the company’s statement, Sydbank has now repurchased a total of 1,403,000 shares since the program began on March 3, with a combined value of DKK 608.8 million. Following these transactions, the bank holds 1,407,316 of its own shares, representing 2.74% of its total share capital.
The current buyback program, announced on February 26, authorizes the repurchase of shares worth up to DKK 1,350 million and will continue until January 31, 2026. The primary purpose of the program is to reduce Sydbank’s share capital.
The company noted that all transactions are being executed in compliance with European market abuse regulations and Safe Harbour rules, with Danske Bank (CSE:DANSKE) A/S conducting the purchases on behalf of Sydbank.
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