SEB completes latest share buyback programme and initiates new programme
SEB has completed its latest share buyback programme, under which SEK 2 billion of Class A shares have been repurchased. The Board of Directors has resolved to utilise the authorisation granted by the 19 March 2024 Annual General Meeting to initiate a new SEK 2.5 billion buyback programme of Class A shares.
On 19 March 2024, SEB announced a SEK 2 billion share buyback programme for capital management purposes. The repurchases of shares began on 20 March 2024 and ended on 12 July 2024. During this period, SEB repurchased 13,329,653 of its own Class A shares at an average price per share of SEK 150.04, for a total purchase amount of SEK 2 billion.
On 15 July 2024, the Board of Directors resolved to utilise the authorisation granted by the Annual General Meeting held on 19 March 2024, to initiate a new SEK 2.5 billion buyback programme of Class A shares. The share buyback programme is expected to commence on 17 July 2024 and end on 22 October 2024, at the latest. A maximum number of shares may be repurchased so that SEB’s total holding at any time does not exceed 10 per cent of SEB’s total number of issued shares. Repurchased shares are expected to be cancelled.
The share buyback programme will be managed by an independent financial investment firm, which will make its trading decisions regarding the timing of the share repurchases independently of, and without influence by, SEB. Share repurchases shall take place on Nasdaq Stockholm Stock Exchange in accordance with the Nordic Main Market Rulebook for Issuers of Shares – NASDAQ Stockholm (Supplement D) and in accordance with the Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse (MAR) and the Commission Delegated Regulation (EU) 2016/1052 (the Safe Harbour Regulation). Share repurchases under the share buyback programme may periodically be halted for SEB’s repurchases of own shares for SEB’s long-term incentive programme.
As of 30 June 2024, the total number of issued shares in SEB amounted to 2,099,836,305 and SEB held 48,997,440 own shares.
Information about the repurchases under the share buyback programme is published weekly on sebgroup.com.