HELSINKI - Finnish financial company Sampo Oyj (HEX:SAMPO) has completed the acquisition of its own A shares on November 26, as part of its ongoing share buyback program. The company reported that a total of 93,734 shares were purchased across various marketplaces at a weighted average price of €40.16 per share.
The buyback initiative, which was first announced on June 17, 2024, originally set out to purchase up to €400 million worth of its own shares. Following a decision by Sampo's Board of Directors on September 16, 2024, the program was expanded to €475 million. The buyback is conducted under the authorization granted by the Sampo Annual General Meeting held on April 25, 2024.
After the recent transactions, Sampo Oyj now holds a total of 11,468,129 of its A shares, representing 2.09% of all issued shares, considering the shares issued as of September 16, 2024. The company has been actively managing its capital structure through share buybacks, a common practice among listed companies aiming to return value to shareholders.
The transactions were carried out on regulated markets, including AQEU, CEUX, TQEX, and the Helsinki Stock Exchange (XHEL), with Morgan Stanley (NYSE:MS) acting on behalf of Sampo Oyj. The detailed breakdown of the transactions has been made available as an attachment to the company's announcement.
This share repurchase activity is part of a broader strategy by Sampo Oyj to optimize its financial structure and deliver shareholder value. The company's approach aligns with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052, ensuring compliance with regulatory standards.
The information provided is based on a press release statement.
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