Norsk Hydro: Status share buyback program
Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025.
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Rhea-AI Summary
Norsk Hydro ASA has provided an update on its share buyback program, which runs from September 11, 2024, to February 28, 2025. From November 6-12, 2024, the company purchased 1,457,211 shares at prices ranging from NOK 65.85 to NOK 69.86. The total accumulated shares bought under the program to date are 8,889,906 at an average price of NOK 66.28, with a total transaction value of NOK 589,255,450. Following these transactions, Norsk Hydro now owns 22,972,411 shares, representing 1.14% of its share capital.
Positive
- Significant share buyback program demonstrates confidence in company value
- Company has accumulated 8.89M shares, showing strong execution of buyback program
- Total investment of NOK 589.26M in share repurchases benefits remaining shareholders
Negative
- Share buyback reduces company's cash reserves by NOK 589.26M
- Declining share price trend observed during reporting period (NOK 69.86 to NOK 65.85)
Details
News Market Reaction – NHYDY
The recorded move for NHYDY in the trading session of this news was -1.03%.
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Please see below information about transactions made under the share buyback program for Norsk Hydro ASA.
Announcement date of the share buyback program: September 11, 2024
End date of the share buyback program: February 28, 2025
Overview of transactions:
| Date | Aggregated daily volume (number of Shares) | Weighted average share price per day (NOK) | Total daily transaction value (NOK) |
| 06/11/2024 | 200 000 | 69.32 | 13 864 720 |
| 07/11/2024 | 7 211 | 69.86 | 503 744 |
| 08/11/2024 | 250 000 | 69.62 | 17 406 075 |
| 11/11/2024 | 350 000 | 68.26 | 23 890 125 |
| 12/11/2024 | 650 000 | 65.85 | 42 805 035 |
| Previous Transactions | 7 432 695 | ||
| Accumulated to date | 8 889 906 | 66.28 | 589 255 450 |
Prior to the share buyback program Norsk Hydro ASA owned a total of 14 082 505 own shares. Following the above listed transactions, Norsk Hydro ASA owns a total of 22 972 411 shares, corresponding to
Attachment: An overview of all the completed transactions under the program for the dates specified above is attached to this notification and available on www.newsweb.no.
Investor contact:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com
This is information that Norsk Hydro ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Attachment
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