Repsol has communicated the early conclusion of its share buyback program initiated on August 3, after allocating a total of 500 million euros to the acquisition of 17,375,862 shares, equivalent to 1.59% of its share capital, just three days before the deadline set for the operation, on October 29.
With this buyback, the energy company has decided to carry out a capital reduction through the amortization of the own shares acquired, with a nominal value of one euro per share. In this way, Repsol's share capital is now situated at 1,072.230 million euros, divided into 1,072.230 million shares, each with a nominal value of one euro.
The purpose of this operation is exclusively the capital reduction, so it does not imply in any case the return of contributions to shareholders, but rather seeks to increase the earnings per share for the owners of the shares in circulation.
In parallel, Repsol will request the exclusion of trading of the amortized shares on the Madrid, Barcelona, Bilbao, and Valencia stock exchanges, through the Continuous Market, once the capital reduction process is completed.
The company had already concluded a previous share buyback program on July 21. That plan was deemed completed after investing 350 million euros in the purchase of 15.768 million shares, which represented 1.43% of its share capital before applying the corresponding capital reduction.