More for Maersk
Denmark’s AP Moller-Maersk has snapped up another DKK 170m ($28.65m) of its own shares as part of a $1bn buyback programme.
AP Moller-Maersk CEO Nils Andersen
The giant shipping group announced the scheme in August and said it would spend up to $400m by the end of November in the first phase.
In its second update on purchases, the company revealed that from 29 September to 3 October it had bought another 2,500 A shares worth nearly DKK 30m and 10,000 B shares worth DKK 140m.
This gives it 13,550 A shares and 156,767 B shares, to be held as treasury stock and cancelled next year.
The shares represent just 0.77\% of its capital.
In its first update last month, it said it had bought DKK 454.13m worth of B shares, the more liquid of the two classes, plus DKK 111.12m worth of A shares, where most of the family’s holding is concentrated.
The buyback is scheduled to end next September.
source:tradewindsnews.com
