This Friday, CaixaBank completed its share collection program, which it began just over a month ago, when it began executing it on March 14. As reported by the entity to the National Securities Market Commission (CNMV), it had planned an investment of around 500 million euros to develop this plan. After completing the program, CaixaBank reports that it has acquired a total of 104,639,681 own shares. This amount of repurchased securities represents 1.42% of the total share capital of the Spanish bank with its registered office in Valencia.
When starting the buyback operations, the bank explained that its purpose was to redeem all the shares acquired in the process. The entity has indicated that the actions to amortize the securities acquired in recent weeks will be announced “soon.” Currently, CaixaBank’s share capital is made up of a total of 7,372 million shares, with a nominal value of one euro each and equivalent to one voting right.
It exceeds 3% of its capital in treasury stock
CaixaBank has exceeded 3% of its share capital in treasury stock, coinciding with the share recovery program, according to the CNMV. This Monday, the bank has notified that it has reached 3,027% of its capital in treasury shares this Monday, above the 2,036% it reported in March. Thus, indirect voting rights reach 3.013%, while indirect voting rights represent 0.014%. This is the highest volume of CaixaBank’s treasury stock in January 2023, when it reduced it from 6.195% to 0.114%.
The program aims to maintain the CET1 capital ratio, the highest quality, at around 12%. The expected impact of this buyback will be 0.22% of this ratio, which would leave it at 12.18% according to the data at the end of December 2023. The repurchased shares will be used to reduce the company’s share capital, according to It is authorized at the ordinary general meeting of shareholders.
Morgan Stanley is the program manager. CaixaBank developed a limit that no more than 25% of the average daily volume of the shares could be purchased on any trading day in the trading center where the purchase is made, with the average daily volume of each trading center being the corresponding amount to the twenty trading days prior to the date of each purchase. Shares are purchased on the Spanish Continuous Market, on DXE Europe, on Turquoise Europe and on the Aquis Exchange.
