AkzoNobel repurchases another 185K shares last week

COPENHAGEN – Paint and wood coatings specialist AkzoNobel has repurchased an additional 185,263 of its common shares in the period from Feb. 1-5 as part of its ongoing share buyback initiative.

The shares had an average price of €85.75 per share for a total value of €15.89 million.

This is part of a repurchase program the company announced on Oct. 21, 2020, in which it intends to repurchase common shares up  to a value of €300 million. Thus far, the company has repurchased 1,686,507 common shares with a total value of €147.42 million.

The company plans to complete the share buyback during the first half and has engaged a third party to manage the program on its behalf. The shares will be canceled following the repurchase.

Through weekly updates, AkzoNobel will continue to inform the market about the progress of the initiative. Additional information can be found here.

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