Vestas kicks off programme to buy back up to USD 222m of shares

Vestas wind turbines. Author: Siebe Schootstra.

November 7 (Renewables Now) - Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) announced today that its board of directors has decided to launch a share repurchase programme of up to DKK 1.5 billion (USD 222.4m/EUR 200.8m).

The share buy-back programme starts today and will be executed through December 2019. Its purpose is to adjust Vestas’ capital structure and to meet obligations arising from share-based incentive programmes to company staff.

Vestas noted that as part of the programme it cannot purchase more than 18,633,606 shares, corresponding to 9.4% of its share capital. SEB has been appointed as lead manager.

Also today, Vestas posted a 70% year-on-year surge in third-quarter net profit to EUR 303 million (USD 336m), with revenue rising 30%.

(DKK 1.0 = USD 0.148/EUR 0.134)

(EUR 1.0 = USD 1.108)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription