COPENHAGEN – Ringkjøbing Landbobank has made further progress in its ongoing share buyback program, as detailed in a recent corporate announcement. The Danish bank, listed on Nasdaq Copenhagen, is in the midst of Part II of its buyback scheme, which began on June 28, 2024, and is set to conclude by January 27, 2025. This second phase involves the repurchase of shares worth up to DKK 775 million.
Throughout the past week, the bank executed transactions to buy back shares at varying average purchase prices, contributing to the overall goal of the program. The bank’s latest acquisitions, from December 9 to December 13, 2024, totaled 22,500 shares for an aggregate cost of DKK 26,489,749. This brings the total number of shares bought back under Part II of the program to 573,007, with an average price of DKK 1,122.28 per share.
Since the commencement of the buyback program on February 1, 2024, Ringkjøbing Landbobank has repurchased a total of 1,204,907 shares. These transactions represent 4.5% of the bank’s share capital, aligning with the regulatory compliance framework established by the EU Commission’s “Safe Harbour” rules.
The buyback initiative is part of the bank’s capital allocation strategy, aiming to return value to shareholders and optimize the bank’s equity structure. The detailed transactions have been disclosed in accordance with market regulations, providing transparency to investors and stakeholders.
This share repurchase activity is based on a press release statement from Ringkjøbing Landbobank, which outlines the bank’s efforts to implement its share buyback program within the stipulated regulatory guidelines. As the program proceeds, the bank continues to hold a significant number of its own shares, excluding those in its trading portfolio and investments made on behalf of customers.
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