Vestas launches USD-247m share buyback programme

The board of directors of Vestas Wind Systems A/S (CPH:VWS) has decided to kick off a programme to repurchase up to DKK 1.5 billion (USD 247m/EUR 201m) worth of shares.

The Danish wind turbine maker announced the start of the new programme today, saying it would run from February 12 to May 3, 2018. With this move, the company aims to adjust its capital structure and to meet obligations arising from share-based incentive programmes to Vestas employees, it noted.

SEB will serve as lead manager for the share buyback programme, which allows the Danish company to repurchase no more than 9.7 million shares, corresponding to a 4.5% stake. Before the launch, Vestas holds 11.84 million treasury shares, equal to 5.5% of the share capital.

(DKK 1.0 = USD 0.165/EUR 0.134)

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