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. The new share buyback program is part of an approval that SEB has received from the Swedish Financial Supervisory Authority to buy back shares amounting to SEK 10bn and that is valid until the end of January 2026.
On 23 October 2024, SEB announced a SEK 2.5 billion share buyback program for capital management purposes. The repurchases of shares began on 25 October 2024 and ended on 27 January 2025. During this period, SEB repurchased 16,219,065 of its own Class A shares at an average price per share of SEK 154.14, for a total purchase amount of SEK 2.5 billion.
On 28 January 2025, 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 6 February 2025 and end on 31 March 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 31 December 2024, the total number of issued shares in SEB amounted to 2,099,836,305 and SEB held 79,408,858 own shares.
Information about the repurchases under the share buyback program is published weekly on SEB’s website.
For further information, contact:
Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
pawel.wyszynski@seb.se
Petter Brunnberg, Head of Media Relations & External Communication
+46 70 763 5166
petter.brunnberg@seb.se
SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in our presence in more than 20 countries worldwide, with around 19,000 employees. At 30 September 2024, the Group's total assets amounted to SEK 4,142bn while assets under management totalled SEK 2,709bn. Read more about SEB at sebgroup.com.