by Antoni Majewski

Evolution AB Advances Share Buyback Program: Acquiring Over 1.9 Million Shares

Evolution AB (publ) (“Evolution”), a leading company in the gaming industry, has made significant strides in its share repurchase program, acquiring a total of 184,892 own shares within a week. This move is part of a broader strategy to optimize the company’s capital structure and enhance shareholder value.


Strategic Share Buybacks by Evolution AB

Evolution AB, a key player in the gaming sector, has actively pursued its share repurchase program, acquiring a substantial number of shares in a short period. Between January 15 and January 19, 2024, the company bought back 184,892 of its own shares. This program, which was announced on November 23, 2023, is conducted in compliance with the EU Market Abuse Regulation (MAR) and the Safe Harbour Regulation.

Details of the Recent Acquisitions

During the week of January 15-19, 2024, Evolution AB’s share purchases were executed on the Nasdaq Stockholm by Citibank. The bank made independent trading decisions regarding the timing of these purchases. The daily transactions included:

  • January 15: 56,000 shares at an average price of SEK 1,150.0653.
  • January 16: 62,589 shares at an average price of SEK 1,147.6869.
  • January 17: 59,000 shares at an average price of SEK 1,155.8685.
  • January 18: 4,286 shares at an average price of SEK 1,175.9838.
  • January 19: 3,017 shares at an average price of SEK 1,194.2717.

Overall Impact of the Buyback Program

As of January 19, 2024, Evolution’s holding of its own shares amounted to 3,631,822, out of a total of 215,604,777 shares. Since the start of the program on November 27, up to and including January 19, Evolution AB has acquired a total of 1,925,290 shares. The program permits the acquisition of up to 19,853,945 shares in total.

Objective Commentary: Evolution AB’s Share Buyback Strategy

Evolution AB’s active share repurchase program reflects a strategic approach to creating added value for shareholders and optimizing the company’s capital structure. By buying back shares, Evolution AB not only consolidates its market position but also potentially increases the earnings per share, a move that can lead to a positive reaction in the market. This strategy, while common among large corporations, indicates confidence in the company’s financial health and future prospects.

Evolution AB’s adherence to regulatory guidelines in executing these transactions further strengthens its commitment to transparency and compliance in its business operations. As the program continues, it will be interesting to observe its long-term impact on the company’s market valuation and shareholder value.

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