VEF AB (OM:VEFAB) commences an Equity Buyback for 10% of its issued share capital, under the authorization approved on May 10, 2022.
August 29, 2022 at 08:00 am
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VEF AB (Publ) (OM:VEFAB) commences share repurchases on August 23, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2022. As per the mandate, the company is authorized to repurchase up to 10% of its issued shares. The repurchase price of the share is within the price interval, on any occasion, recorded on the relevant marketplace, which refers to the interval between the highest buying price and the lowest selling price. The purpose of the buyback program is to allow the Company the flexibility to create additional shareholder value and optimize the Company's capital structure as and when deemed appropriate by reducing the Company's capital. The authorization is conditional on acquisitions being permitted according to the Swedish Companies Act.
On August 22, 2022, the company announced a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares, representing 10% of its issued shares. The repurchase program will start today and valid until the 2023 AGM of the Company.
Vef AB (publ) is a Sweden-based investment company. The Company invests in growth stage private fintech companies, take minority stakes and is an active investor with board representation in its portfolio companies. The Company focuses on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. The portfolio consists of such companies as lending company Creditas, digital banking company Konfio, TrnasferGO which conducts digital money transfers, payment company Juspay, Revo offering financing solutions for customers, FinanZero supporting digital marketplace for consumer loans, or Nibo which operates as a software as a service (SaaS) provider.
VEF AB 
