Nordea Bank Abp has successfully executed a share repurchase program, bolstering its treasury stock as a strategic move to optimise capital and facilitate employee remuneration. The transactions, carried out on Sunday, were conducted across multiple trading platforms, including XHEL, CEUX, XSTO, and XCSE. Importantly, these transactions adhered to the Market Abuse Regulation (MAR) and EU Delegated Regulation No.2016/1052.
In total, the bank invested EUR 1.991 million in acquiring over 191,000 shares, with an average purchase 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. The program was authorised by the Annual General Meeting (AGM) held in April 2023.
Following the recent repurchase, Nordea’s treasury now holds a significant stake of over four million shares specifically designated for employee remuneration. Additionally, the treasury maintains approximately eight hundred thousand shares earmarked for capital optimisation purposes. It’s worth noting that these transactions were managed by Morgan Stanley Europe SE.
This share repurchase underscores Nordea Bank’s commitment to strategic capital management and aligns with its broader efforts to enhance shareholder value. The move not only provides flexibility for employee remuneration but also contributes to the bank’s ongoing initiatives in optimising its capital structure. The adherence to regulatory frameworks during the transactions reinforces Nordea’s commitment to maintaining transparency and regulatory compliance in its financial activities.