Between 17 November and 3 December, the Nasdaq-listed company undertook its second buyback round, repurchasing 817,700 ordinary shares.
This followed an initial round that took place between 13 September and 15 October, in which Catena acquired 1,504,810 shares, bringing its total to 2,322,510 at a volume-weighted average price of SEK 57.06.
This plan was first approved by shareholders on 14 July. Under its terms, Catena is authorised to repurchase a maximum of 7,039,215 ordinary shares, or no more than 10% of its issued share capital.
This figure currently stands at 75,570,137, though it will increase to 76,180,121 when new shares are issued as a result of the warrant exercise period that followed the publication of Catena’s Q3 interim report.
As a result, it holds 3.1% of the total shares, giving the company considerable room for further repurchases.
In its announcement, Catena stressed that the share buyback programme operates in compliance with the Maltese Companies Act, EU Market Abuse Regulation and the applicable rules of Nasdaq’s Nordic Main Market Rulebook for Issuers of Shares.
Catena also stated that all share repurchases have been executed on Nasdaq Stockholm by Carnegie Investment Bank on its behalf.
As of 12:00 pm CET on 6 December, Catena’s share price stood at SEK 47.90, the lowest it has been since the company began its first round of stock buybacks on 13 September.
The share repurchase program began in the third quarter, which saw Catena’s operating revenue increase by 33%.
