Outokumpu Oyj commences an Equity Buyback Plan for 45,000,000 shares, representing 9.85% of its issued share capital, under the authorization approved on March 31, 2022.
On November 3, 2022, the company initiated a repurchase program. Under the program, the company will repurchase up to 20,000,000 shares, representing 4.4% of its share capital, for 100 million. The purpose of the program is to mitigate and manage the dilutive impact of the company's outstanding convertible bonds. The repurchased shares will be initially held by the company as treasury shares and may be used to meet its obligations under the convertible bonds. Alternatively, the company may decide to cancel any or all of the repurchased shares and reduce its capital accordingly. The program will commence at the earliest on November 7, 2022 and end no later than on March 24, 2023.
On March 24, 2023, the company concluded the Market Repurchase. Under the program, the company repurchased 19,836,205 shares, for 100 million.