Between 27 September and 1 October, KPN repurchased 11,132,512 of its own shares at an average price of EUR 2.72 per share. This brings the total amount for the week to EUR 30.3 million. This means that KPN has repurchased a total of EUR 117.9 million of its own shares. The company is now over half way through its EUR 200 million share buyback, which was announced in August 2021.
This is the first time that KPN has acquired so many shares in one week as part of the current share buyback. The closest it came was in the second week, when it bought 7,562,267 of its own shares. In recent weeks, however, the buyback seemed to slow down: a fortnight ago, KPN bought back 5,359,298 shares and last week 4,154,345.
The purpose of the programme is to reduce KPN's capital. KPN buys the shares at a price of at least the nominal value and at most 110 percent of the average closing price on Euronext Amsterdam on each of the five trading days preceding the date of purchase.
This is the first time that KPN has acquired so many shares in one week as part of the current share buyback. The closest it came was in the second week, when it bought 7,562,267 of its own shares. In recent weeks, however, the buyback seemed to slow down: a fortnight ago, KPN bought back 5,359,298 shares and last week 4,154,345.
The purpose of the programme is to reduce KPN's capital. KPN buys the shares at a price of at least the nominal value and at most 110 percent of the average closing price on Euronext Amsterdam on each of the five trading days preceding the date of purchase.
