AkzoNobel has repurchased 185,263 of its own common shares in the period from 1-5 February at an average price of €85.75 per share. 

The consideration of the repurchase was €15.89million. This is part of a repurchase program announced on October 21, 2020.

AkzoNobel, whose portfolio of brands include Dulux, Sikkens and Interpon, intends to repurchase common shares up to a value of €300 million.

The total number of shares repurchased under this program to date is 1,686,507 ordinary shares for a total consideration of €147.42million.

A company statement read: “The share buyback is due to be completed in the first half of 2021. The company has engaged a third party to manage the program and perform transactions on its behalf. It is intended that the shares will be cancelled following repurchase.

“The share buyback is implemented within the limitations of the authority granted by the Annual General Meeting (AGM) on April 23, 2020.”

Find out more about AkzoNobel’s share buyback here.

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