Catena Media details share repurchase
| By Robert Fletcher
Affiliate giant Catena Media has revealed it repurchased 1,504,810 of its ordinary shares during the third quarter of the 2021.
Shares were repurchased between 13 September and 15 October as part of a share buyback programme initiated by its board of directors to promote more efficient capital usage by returning excess capital to shareholders.
Repurchases were executed on Nasdaq Stockholm by Carnegie Investment Bank on behalf of Catena, with volume-weighted average price of SEK 57.65 per share.
The repurchases amounted to 2% of the total 75,570,137 shares in Catena. The company’s holdings of its own shares may not exceed 10% of the total issued share capital.