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SEB Completes First Share-Repurchase Program; Initiates New Buyback

By Dominic Chopping

 

STOCKHOLM--Skandinaviska Enskilda Banken AB said late Tuesday that it has completed its first share-buyback program under which 2.5 billion Swedish kronor ($264 million) of Class A shares were repurchased, and it will now initiate a new SEK2.5 billion program.

In October, the Swedish bank announced the first buyback program for capital-management purposes. Repurchases under that program ended Tuesday, after the company bought back 20 million Class A shares at an average per-share price of SEK124.66.

On Tuesday, the board resolved to use authorization granted by the annual general meeting held the same day to initiate the new buyback program, which is expected to run until Oct. 24 at the latest.

 

Write to Dominic Chopping at dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

March 23, 2022 03:52 ET (07:52 GMT)

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