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COPENHAGEN - Sydbank A/S (CPH:SYDB) purchased 55,000 of its own shares during the week of July 21-25 as part of its ongoing share buyback program, according to a company statement released Monday.
The Danish bank acquired the shares at prices ranging from DKK 471.02 to DKK 477.09 per share, with a total expenditure of DKK 26,066,260 for the week.
Since the program’s inception on March 3, Sydbank has repurchased a total of 1,343,000 shares for an aggregate amount of DKK 579,901,820. Following these transactions, the bank now holds 1,343,637 of its own shares, representing 2.62% of its total share capital.
The buyback program, announced on February 26, has a total allocation of DKK 1,350 million and is scheduled to run until January 31, 2026. The primary purpose of the program is to reduce Sydbank’s share capital.
The share repurchases are being executed in compliance with European market regulations, specifically the Safe Harbour rules established under Regulation (EU) No 596/2014 and Commission Delegated Regulation (EU) 2016/1052. Danske Bank (CSE:DANSKE) A/S is conducting the transactions on behalf of Sydbank.
The bank reported that all transactions were made under the ISIN code DKK 0010311471, as stated in the press release.
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