Norsk Hydro: Market part of Hydro`s 2024-2025 share buyback program finalized
Rhea-AI Summary
Norsk Hydro has completed its 2024-2025 share buyback program's market portion, announced on September 10, 2024. The program totals 30,526,862 shares, with 20,067,969 shares repurchased from the open market at a weighted average price of NOK 65.52. The remaining 10,458,893 shares will be purchased from the Norwegian Ministry of Trade, Industry and Fisheries, maintaining their 34.26% ownership stake.
The repurchased shares will be cancelled following approval at the May 2025 Annual General Meeting. While market-purchased shares had immediate cash effect, the state's pro rata shares will be paid during the capital reduction in mid-2025. Following these transactions, Norsk Hydro now owns 34,150,474 shares, representing 1.70% of its share capital.
Positive
- Significant share buyback program of 30.5M shares demonstrates confidence in company value
- Immediate execution of market portion shows strong implementation capability
- Maintenance of Norwegian state's ownership stake ensures stability
Negative
- Substantial cash outlay of NOK 1.31B for market purchases impacts liquidity
- Additional payment due in mid-2025 for state's portion creates future cash obligation
On January 7, 2025, Hydro finalized the open market repurchase of the 2024-2025 buyback program as announced on September 10, 2024.
The total program comprises 30 526 862 shares, of which 20 067 969 shares were repurchased in the market. The remaining 10 458 893 shares will be purchased from the Norwegian state through the Ministry of Trade, Industry and Fisheries, and therefore the Ministry's ownership interest in Norsk Hydro ASA of
The 30 526 862 shares will be cancelled following approval by the Annual General Meeting in May 2025. The shares that have been repurchased in the open market have had an immediate cash effect, whereas the pro rata shares from the Norwegian state will be paid simultaneously with the capital reduction in mid-2025.
The weighted average price for the 20 067 969 shares was NOK 65.52.
Please see below information about the last transactions made under the share buyback program for Norsk Hydro ASA.
Overview of transactions:
| Date | Aggregated daily volume (number of Shares) | Weighted average share price per day (NOK) | Total daily transaction value (NOK) |
| 03/01/2025 | 575 000 | 62.92 | 36 179 288 |
| 06/01/2025 | 360 882 | 63.00 | 22 736 252 |
| 07/01/2025 | 813 202 | 63.17 | 51 372 735 |
| Previous Transactions | 18 218 885 | 65.76 | 1 198 140 782 |
| Accumulated to date | 20 067 969 | 65.52 | 1 314 799 957 |
Prior to the share buyback program Norsk Hydro ASA owned a total of 14 082 505 own shares. Following the above listed transactions, Norsk Hydro ASA owns a total of 34 150 474 shares, corresponding to
Attachment: An overview of all the completed transactions under the program for the dates specified above is attached to this notification and available on www.newsweb.no.
Investor contact:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com
This is information that Norsk Hydro ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Attachment
FAQ
How many shares did Norsk Hydro (NHYDY) repurchase in its 2024-2025 buyback program?
What was the average price paid per share in NHYDY's 2024-2025 buyback program?
When will NHYDY cancel the repurchased shares from the 2024-2025 buyback?
How much does Norsk Hydro (NHYDY) now own in treasury shares after the buyback?
What is the Norwegian state's ownership stake in NHYDY after the buyback?
