COPENHAGEN – Paint and wood coatings specialist AkzoNobel said it has repurchased another 224,400 of its common shares from Feb. 15-19 as part of an ongoing share buyback program announced in October, 2020.
The shares were purchased at an average price of €85.29 per share for a total value of €19.14 million.
The company plans to repurchase common shares up to a value of €300 million. Thus far, it has repurchased 2,111, 532 ordinary shares for a total value of €183.76 million.
The share buyback is expected to be completed during the first half of this year, and the company has engaged a third party to manage the program and perform transactions on its behalf. The shares will be cancelled following the repurchase.
The company, in compliance with regulations, will continue to inform the market of the progress with this program through weekly updates and on its website. The updates can be seen by clicking here. https://www.akzonobel.com/for-investors/shares/share-buyback-overview