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Nordea Bank expands treasury shares through recent buy-back

EditorPollock Mondal
Published 21/11/2023, 09:22
© Reuters.

HELSINKI - Nordea Bank Abp (OTC:NRDBY) has recently executed a share repurchase program, enhancing its treasury stock as part of a strategic initiative to optimize capital and provide for employee remuneration. The transactions, conducted on Sunday across multiple trading platforms including XHEL, CEUX, XSTO, and XCSE, adhered to the Market Abuse Regulation (MAR) and EU Delegated Regulation No.2016/1052.

The bank spent a total of EUR 1.991 million to acquire over 191,000 shares at an average price of EUR 10.41 per share. This initiative is part of a larger buy-back program announced on April 26, which is capped at EUR one billion, as authorized by the Annual General Meeting (AGM) in April 2023.

Following the recent repurchase, Nordea's treasury now holds over four million shares designated for employee remuneration and approximately eight hundred thousand shares for capital optimization purposes. These transactions were managed by Morgan Stanley Europe SE.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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