Link Securities| As reported in a Significant Event sent yesterday to the Spanish National Securities Market Commission (CNMV), the Board of Directors of Caixabank (CABK) has agreed to approve and initiate a programme to buy back its own shares for a maximum amount of €500 million.
The objective of the programme is to reduce Caixabank’s share capital following the redemption of the treasury shares acquired. The capital reduction may be carried out once or several times, up to the date of the Ordinary General Shareholders’ Meeting in 2025. The maximum number of shares to be acquired will depend on the average price at which the purchases take place”, although it will not exceed 10% of Caixabank’s share capital. The programme will have a maximum duration of 6 months, although the company reserves the right to terminate it earlier if it reaches the maximum monetary amount or if any circumstance so advises or requires.
