SEB initiates new share buyback program
The Board of Directors of SEB has resolved to utilise the authorisation granted by the 4 April 2023 Annual General Meeting to initiate a SEK 1.75 billion buyback program of Class A shares running until the next Annual General Meeting to be held on 19 March 2024.
On 24 January 2024, the Board of Directors resolved to utilise the authorisation granted by the Annual General Meeting held on 4 April 2023, to initiate a new buyback program of Class A shares for an amount of SEK 1.75 billion. The share buyback program is expected to commence on 26 January 2024 and end on 18 March 2024, 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 29 December 2023, the total number of issued shares in SEB amounted to 2,139,983,495 of which SEB had repurchased 67,299,656 own shares.
Information about the repurchases under the share buyback program is published weekly on sebgroup.com.
For further information, contact:
Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
pawel.wyszynski@seb.se
Press contact:
Niklas Magnusson, Head of Media Relations & External Communication
+46 70 763 8243
niklas.x.magnusson@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 17,500 employees. At 30 September 2023, the Group's total assets amounted to SEK 4,134 bn while assets under management totalled SEK 2,194bn. Read more about SEB at sebgroup.com.