BBVA has communicated to the National Securities Market Commission (CNMV) that it has already surpassed 88% execution of the third and final tranche of its extraordinary share buyback program, endowed with 1.460 billion euros.
In detail, the entity has reached an execution level of 88.7% after going to the markets during the past week, from July 20 to 24, a period in which it acquired 5.3 million shares at an average price of 22.55 euros, which represented an outlay of over 119.4 million euros.
With these operations, the bank has already bought more than 63.3 million of its own shares, at an average cost of 20.74 euros per share, with a total amount invested that amounts to 1.295 billion euros.
This third tranche of the buyback program is being carried out after the two previous ones completed in recent months, whose aggregate volume was 1.500 billion euros.
The execution of the purchase orders is handled by Citi, which operates in the Spanish Stock Market Interconnection System-Continuous Market and on the trading platforms Cboe Europe, Turquoise Europe, and Aquis Exchange.
According to forecasts, this last tranche will conclude before August 3 or, failing that, at the moment the maximum amount set of 1.460 billion euros is reached or the acquisition of the maximum number of authorized shares, established at 429.552.243 shares, is completed.
BBVA has indicated that it can acquire a maximum of 3.549.316 shares per day in the Continuous Market, 1.476.879 shares in Cboe Europe, 154.445 shares in Turquoise Europe, and 322.959 shares in Aquis Exchange. In addition, the bank has committed to having the manager buy at least 500.000 shares of BBVA in each trading session.