NCC repurchased Series B shares in early November 2022
Construction company NCC announced it repurchased Series B shares during week 44, 2022. These buybacks are part of a previously announced share repurchase program.
Construction firm NCC reported repurchases of its Series B shares during calendar week 44 of 2022, covering the period from October 31 to November 4. These transactions are part of an ongoing share repurchase program announced by NCC on April 27, 2022, which allows for the buyback of up to 10 percent of Series B shares, not exceeding SEK 1.5 billion in total value.
The repurchase program is set to continue until NCC's Annual General Meeting in 2023. All acquisitions for this period were executed on Nasdaq Stockholm by SEB on behalf of NCC AB. As of November 4, 2022, NCC's holdings of its own Series B shares amounted to 9,984,719 shares.
Daily transaction values varied during the reporting period. On October 31, 2022, aggregated daily volume was 88,607 shares with a weighted average price of SEK 91.67, totaling SEK 8,122,852. The final reported day, November 4, saw 66,658 shares repurchased at an average price of SEK 99.93, for a total daily transaction value of SEK 6,652,054.
NCC is a leading Nordic construction company with expertise in managing complex construction processes. Its operations encompass commercial property development, building and infrastructure project contracting, and the production of asphalt and stone materials. In 2021, NCC reported sales of approximately SEK 53 billion and employed 13,000 people.