Banco Sabadell has informed the National Securities Market Commission (CNMV) that it has already executed 14.78% of its current share buyback program by the end of the second week of validity.
In this second tranche, the entity has acquired around seven million shares, for which it has disbursed 23.9 million euros. Adding both weeks, the bank accumulates the purchase of 14.5 million shares, with a disbursement close to 50 million euros.
The buyback program has a maximum amount of 331 million euros. The total limit of own shares to be acquired amounts to 467,846,248 shares, equivalent to approximately 10% of the entity's share capital.
The purchases will be made at market prices and, in any case, shares will not be acquired above the highest price between the last independent transaction and the highest existing independent buy offer in the trading center where the order is executed.
Furthermore, Banco Sabadell will not buy in any trading session more than 25% of the average daily trading volume of its shares recorded in the 20 business days prior to each operation in the corresponding market. The buyback program will have a maximum duration until December 31.
However, the entity reserves the option to conclude the program before that date if it reaches the maximum number of shares planned or the total authorized amount.
The execution of the buyback program will fall to the team that, in accordance with Banco Sabadell's treasury stock policy, is entrusted with carrying out operations on its own shares.