Banco Sabadell has communicated to the National Securities Market Commission (CNMV) that it has already carried out 31.33% of its share buyback program at the close of the fourth week since its launch.
Between August 17 and 21, the entity from the Vallès acquired 6.76 million of its own shares at an average price of 3.65 euros per share, allocating more than 24.67 million euros to these operations. With these purchases, the bank totals 29.84 million shares repurchased for an aggregate amount exceeding 103.69 million euros.
The buyback program contemplates a maximum amount of 331 million euros. Within this framework, the maximum number of its own shares that the entity may acquire amounts to 467,846,248 shares, approximately equivalent to 10% of its share capital.
The operations are executed at market prices, although the entity may not acquire shares above the highest price between the last independent transaction and the highest existing independent purchase offer in the trading center where the transaction is carried out.
Furthermore, Sabadell has committed not to buy more than 25% of the average daily trading volume of its shares during the 20 trading days prior to each operation in the corresponding market. The buyback program will have a maximum validity until December 31.
However, the financial entity reserves the possibility of concluding the plan before that date in case it reaches the maximum number of shares planned or the total authorized amount.
The execution of the buyback program falls on the team that, in accordance with Banco Sabadell's treasury stock policy, assumes the responsibility of carrying out operations on its own shares.