HELSINKI - Finnish financial company Sampo Oyj (HEL:SAMPO) reported on Monday that it has continued its share repurchase program by buying back its own A shares on the market on November 25, 2024. The total volume of shares acquired on that day was 94,111 shares with a weighted average price of €40.01.
This move is part of a broader buyback program that Sampo announced on June 17, 2024, which initially aimed to repurchase shares for up to €400 million. The company's board later decided on September 16, 2024, to increase the program's size to €475 million. The repurchase initiative, which commenced on June 18, 2024, operates under the authorization granted by Sampo's Annual General Meeting on April 25, 2024.
After the recent transactions, Sampo Oyj now holds a total of 11,374,395 of its own A shares, representing 2.07% of all issued shares, considering the shares issued as of September 16, 2024. The detailed transactions attached to the press release indicate that the shares were bought through several marketplaces including AQEU, CEUX, TQEX, and XHEL.
Sampo Oyj's share repurchase is conducted in accordance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring compliance with European Union regulations.
The company has delegated the execution of the buyback program to Morgan Stanley (NYSE:MS), which performs the transactions on behalf of Sampo Oyj. The purpose of the share buyback program, as stated in previous announcements, is to return value to shareholders and optimize the company's capital structure.
The information provided in this article is based on a press release statement from Sampo Oyj.
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