Caixabank has informed the National Securities Market Commission (CNMV) that it has executed 18.98% of its share repurchase programwhich has a maximum amount of 500 million euros. Five weeks after the start of the plan, the bank has acquired a total of 9.5 million shares, worth 94.87 million euros.
Between December 19 and 23, CaixaBank purchased 1,260,055 securities at a weighted average price of 10.3926 euros per share, which represented a total outlay of more than 13 million euros.
CaixaBank’s seventh share buyback program was announced in October and began on November 25, managed by Goldman Sachs. The financial institution has delegated to Goldman Sachs the decision-making regarding the opportune moment to make the purchases of the securities.
CaixaBank has established certain limitations in the buyback process. In this sense, the entity may not acquire more than 25% of the average daily volume of the shares in a single trading day, taking as a reference the twenty trading days prior to each operation. Additionally, the program has a maximum duration of six months from its start date.