The European Central Bank (ECB) has authorized BAWAG Group AG to buy back its own shares with a volume of up to EUR 325 million. The corresponding decision was delivered to the bank’s board of directors today, Wednesday, the financial institution announced in a broadcast in the evening. The buyback program will start next Monday (July 25, 2022) and is expected to run until December 30.
The authorization resolution of the Annual General Meeting was passed on March 28, 2022. Up to 8,841,461 bearer shares can be bought back. According to the information, this corresponds to 10 percent of the share capital, less treasury shares that are currently held.
The equivalent value per share may not fall below the lower limit of 1 euro, but may not be more than 50 percent above the average stock market price of the last 20 trading days before the respective acquisition, weighted according to trading volume.
The shares are bought back via the Vienna Stock Exchange and via multilateral trading systems (MTFs).
When the annual figures for 2021 were published, BAWAG announced that the share buyback planned for 2022 totaling EUR 425 million would be divided into two tranches in view of the geopolitical risks. Regulatory approval has now been obtained for the first tranche of EUR 325 million, and the bank intends to apply for the second in the second half of the year.
