Vestas finalises USD-420m share buyback programme

Danish wind turbines maker Vestas Wind Systems A/S (CPH:VWS) said on Friday it has completed the share buyback programme it initiated in mid-August 2016.

Between August 18 and December 30, 2016, the company bought back nearly 6.05 million shares at a weighted average purchase price of DKK 493.4 (USD 69.4/EUR 66.4) apiece for a total transaction value of about DKK 2.98 billion.

On the very last day of the year, Vestas repurchased 23,219 shares for a total of DKK 10.6 million, according to a company statement.

As previously mentioned, the purpose of the programme is to adjust the company’s capital structure and to meet obligations arising from share based incentive programmes to employees of Vestas.

(DKK 1.0 = USD 0.141/EUR 0.135)

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