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EQT AB Accelerates Shareholder Value with Dynamic Stock Buyback Initiative


Leo Gonzalez

May 13, 2024 - 16:23 pm


EQT Corporation Makes Significant Stock Buybacks as Part of Share Repurchase Program

STOCKHOLM, May 13, 2024 -- EQT AB, a leading investment firm with a passion for developing companies and industries, has recently completed a significant number of share repurchases as part of its ongoing repurchase program. This program, announced on April 22, 2024, saw the firm acquiring a total of 348,028 own ordinary shares, which are traded under the ISIN: SE0012853455, during the period from May 6, 2024, to May 10, 2024.

The repurchase initiative is a portion of a larger strategy for EQT, aiming to buy back up to 2,154,000 own ordinary shares for a sum not exceeding SEK 1,000,000,000. This ambitious repurchase program is set to run from April 23, 2024, through May 24, 2024, conforming to the rules and regulations set forth in the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052.

Detailed Transaction Breakdown

The ordinary shares of EQT were repurchased over the course of several days at different volumes and average prices. Starting on May 6, 2024, EQT bought back 94,658 shares at a weighted average price of 306.0825 SEK per share, which resulted in a total transaction value of 28,973,157.29 SEK. This buying continued the following day, May 7, as another 105,000 shares were procured at an average cost of 314.1288 SEK each, culminating in a daily transaction value of 32,983,524.00 SEK.

The subsequent repurchases were executed on May 8, with 50,000 shares bought at 312.3432 SEK per share, amounting to 15,617,160.00 SEK in total. On May 10, the firm concluded its week of buybacks with 98,370 shares at an average price of 324.6684 SEK each, leading to a total of 31,937,630.51 SEK. Over the span of the 19th week of 2024, EQT had accumulated a total of 348,028 shares at an average price of 314.6628 SEK, reaching a grand total transactional value of 109,511,471.79 SEK.

By the end of week 19 in 2024, EQT had successfully accumulated an impressive 1,084,806 shares since the start of the repurchase program at an average price of 302.8600 SEK, translating into a monumental total value of 328,544,347.36 SEK. These transactions were all carried out on Nasdaq Stockholm, and Skandinaviska Enskilda Banken AB managed the purchases on behalf of EQT.

Current Share Overview

The recent buybacks have brought a new structure to EQT's share distribution. As of May 10, 2024, the number of shares held by EQT, inclusive of the company's own shares, is as follows:

  • Ordinary shares amount to 1,245,048,412.
  • Class C shares sum up to 881,555, each with one-tenth (1/10) of a voting right.
  • The total sum of issued shares equals 1,245,929,967.

Moreover, EQT AB's holding of its shares amounts to 61,559,635, which carries neither entitlement to dividends nor voting rights at shareholders' meetings. Consequently, the number of outstanding shares – shares that are issued and fully paid, and available for trade – stands at 1,183,488,777 ordinary shares and 881,555 Class C shares, with the aggregate being 1,184,370,332 shares.

Contact Information and Additional Resources

For those interested in further details or looking to engage with EQT's investor relations, they can reach out to Olof Svensson, the Head of Shareholder Relations, at +46 72 989 09 15. Interested media can get in touch with the EQT Press Office through email ([email protected]) or by calling +46 8 506 55 334.

EQT has made a comprehensive breakdown of all transactions readily available for public review. Individuals and institutions eager to explore the specificities of each transaction can find this information attached to this announcement.

Enhanced Transparency and Regulatory Compliance

EQT's share repurchase program operates in a transparent manner, allowing stakeholders and the public at large to monitor the progress and specifics of the transactions. The commitment to adhere to EU regulations not only instills confidence in EQT's corporate governance practices but also demonstrates due diligence and respect for shareholder value. Furthermore, the structured approach to sharing information establishes an element of predictability and stability within the market.

Related Content Links

To enhance readability and provide easy navigation, several URLs reflecting EQT's recent activities and relevant information have been included:

  • The EQT group's latest news releases regarding share repurchases for week 19 of 2024 can be consulted here.

  • For access to the detailed report in PDF form, highlighting EQT's repurchases for week 19, click here: "EQT - Repurchases of shares - weekly press release w19."

  • An illustrative image of the EQT AB Group is available for viewing here.

  • The comprehensive document outlining EQT's transactions during week 19 is ready for download here: "EQT Transactions w 19."

By providing these resources, EQT ensures transparency and information accessibility for all interested parties, reaffirming its standing as a reputable firm committed to operational excellence and strategic financial management.

Impact on the Shareholder Value

EQT's strategic decision to engage in an extensive stock buyback could signal to the market a strong belief in the intrinsic value of its shares. Repurchasing shares can often lead to an appreciation in stock value for the remaining shareholders and is typically seen as an optimistic indicator regarding the company's future financial health.

Furthermore, share repurchases can reflect a company's focus on shareholder returns. By reducing the number of shares in circulation, EQT's buyback initiative could result in improved earnings per share (EPS) metrics and higher dividend payouts for shareholders, assuming dividend distributions remain constant or even grow.

Future Outlook and Shareholder Engagement

As EQT's repurchase program proceeds, stakeholders can expect ongoing reporting and assurance of compliance with market regulations. Shareholders are encouraged to stay informed and engage with the firm's investor relation offerings to receive ongoing updates on the progress and impacts of the repurchase program.

The enhanced level of corporate communication that EQT maintains through its strategic disclosures is indicative of its overall approach to business conduct — one that prizes transparency, engagement, and growth for all involved parties. It is this philosophy that continues to drive EQT's success in the investment industry and in the nurturing of its stakeholder relationships.

In conclusion, EQT AB's recent and ongoing efforts to repurchase shares stand as a testament to their financial strategy and dedication to enhancing shareholder value. This initiative, conducted with full transparency and regulatory adherence, helps consolidate EQT's position in the market and showcases the firm's confidence in its operational future. Moreover, it offers a compelling narrative that aligns with EQT's ambition to create sustainable value for both its portfolio companies and its investors.

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