SEB has now completed its first share buyback program under which SEK 2.5 billion of Class A shares has been repurchased. The Board has resolved to utilise the authorisation granted by the 22 March 2022 Annual General Meeting to initiate a new SEK 2.5 billion buyback program of Class A shares.
On 19 October 2021, SEB announced a SEK 2.5 billion share buyback program for capital management purposes. The repurchases of shares began on 21 October 2021 and ended on 21 March 2022. During that period, SEB repurchased 20 055 133 of its own Class A shares at an average price per share of SEK 124.66, for a total purchase amount of SEK 2.5 billion.
On 22 March 2022, the Board of Directors resolved to utilise the authorisation granted by the Annual General Meeting held the same day to initiate a new SEK 2.5 billion buyback program of Class A shares. The share buyback program is expected to commence on 23 March 2022 and end on 24 October 2022 at the latest. A maximum number of shares may be repurchased so that SEB’s total holding at any time does not exceed 10 percent of SEB’s total number of issued shares. Repurchased shares will reduce SEB’s share capital by being 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 28 February 2022, the total number of issued shares in SEB amounts to 2,194,171,802 and SEB held 43,413,101 own shares.