Home » Transaction in relation to a share buyback


In week 34 Kvika banki hf. („Kvika“ or „the bank“) purchased 10,000,000 of its own shares at the purchase price 236,850,000 ISK. See further details below:

Date Time No. of shares purchased Share price (rate) Purchase price
23.8.2021 09:48:56 1,200,000 24.075 28,890,000
23.8.2021 09:49:08 800,000 24.075 19,260,000
24.8.2021 09:40:14 2,000,000 23.950 47,900,000
25.8.2021 09:40:34 1,000,000 23.700 23,700,000
25.8.2021 09:40:56 1,000,000 23.700 23,700,000
26.8.2021 10:10:43 1,000,000 23.500 23,500,000
26.8.2021 10:35:53 1,000,000 23.300 23,300,000
27.8.2021 09:48:11 1,000,000 23.300 23,300,000
27.8.2021 10:07:10 1,000,000 23.300 23,300,000
Total   10,000,000   236,850,000

The trade is in accordance with Kvika‘s buyback programme, announced on 16 July 2021 and based on the authorisation of a shareholders‘ meeting of Kvika held on 21 April 2021.

Kvika held 48,000,000 own shares prior to the notified transacton and has, thus, purchased a total of 58,000,000 shares under the buyback programme, which corresponds to 1.22% of issued shares in the company, an increase in share capital was announced on 27 August. Total purchase price is 1,392,187,500 ISK. Buyback under the programme will amount to a maximum of 117,256,300 million shares. Additionally TM tryggingar hf., Kvika‘s subsidiary, owns 6,400,000 shares which it owned when Kvika and TM hf. merged.

The buyback programme is in effect from 19 July 2021 until Kvika‘s annual general meeting 2022, unless the maximum amount of purchased shares will be reached before that time.

The buyback programme was executed in accordance with Chapter VIII. of Act No. 2/1995 on Public Limited Companies and Chapter II of the Annex to Regulation No. 630/2005 on Inside Information and Market Abuse, “Trade in own shares under buy-back programmes and the stabilisation of financial instruments”, with later amendments.

Further information: Halldór Karl Högnason, Head of Treasury via tel. (+354) 540 3200.



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