SEB completes latest share buyback program and initiates new program
SEB has completed its latest share buyback program, under which SEK 2.5 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 program of Class A shares.
On 15 July 2024, SEB announced a SEK 2.5 billion share buyback program for capital management purposes. The repurchases of shares began on 17 July 2024 and ended on 22 October 2024. During this period, SEB repurchased 16,111,176 of its own Class A shares at an average price per share of SEK 155.17, for a total purchase amount of SEK 2.5 billion.
On 23 October 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 program of Class A shares. The share buyback program is expected to commence on 25 October 2024 and end on 27 January 2025, 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 program 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 program may periodically be halted for SEB's repurchases of own shares for SEB's long-term incentive program.
As of 30 September 2024, the total number of issued shares in SEB amounted to 2,099,836,305 and SEB held 62,868,173 own shares.
Information about the repurchases under the share buyback program is published weekly on www.sebgroup.com.