CaixaBank has so far allocated a total of 59.4 million euros to the program to buy back its own shares for a maximum import of 500 million euros that it announced at the end of July, so it has already executed 11.88% of the target set at an average price of 3.69 euros. This was stated this Friday by the bank in a communication to the CNMV, in which it stated that it has currently acquired 16.26 million of its own shares.
This program aims to reduce CaixaBank’s share capital through the amortization of the treasury shares that are acquired. However, this first decision will be submitted for approval at the ordinary general meeting of shareholders in 2024. In the second week alone, it has acquired a total of 9.3 million shares for an aggregate import of 34.6 million euros and a weighted average price of €3.69.
CaixaBank has also specified that the maximum number of shares to be acquired will depend on the average price at which the purchases take place, but that in any case it will not exceed 10% of the bank’s share capital, now represented by 750,213,161 securities. The program, which was activated in September, has a maximum duration of 12 months, although it ends when the maximum monetary amount is reached.
Among the conditions, CaixaBank, which has appointed BofA Securities Europe as program manager, has indicated that no more than 25% of the average daily volume of shares may be purchased on any trading day in the trading center where the purchase is made. . , the average daily volume of each trading center being that corresponding to the twenty trading days prior to the date of each acquisition.