Scandic Hotels Group Buys Back Shares Early February
Scandic Hotels Group repurchased 262,000 own shares during week 5 as part of its SEK 300 million buyback program. The program continues until the end of March.
SCANDIC HOTELS GROUP — Scandic Hotels Group AB repurchased a total of 262,000 of its own shares between January 27 and January 31, 2025. These transactions were part of the share buyback program initiated by the Board of Directors, amounting to SEK 300 million.
The program, which began on December 9, 2024, is scheduled to run until March 31, 2025. The repurchases were executed on Nasdaq Stockholm by Nordea on behalf of Scandic. The company stated that the buybacks are intended to optimize its capital structure and are being conducted in compliance with the EU Market Abuse Regulation (MAR) and related regulations.
During the specified week, the repurchases totaled nearly SEK 19.8 million, with an average price of SEK 75.59 per share. Cumulatively, Scandic has now bought back 2.15 million shares since the program's inception. As of the end of January, Scandic held 2.15 million treasury shares, representing approximately 1% of the total number of shares outstanding.
Scandic Hotels Group is the largest hotel company in the Nordic region, operating approximately 280 hotels. The company emphasizes the integration of sustainability across its operations.