A total of 18.3 million Veidekke shares were traded over the stock exchange during the fourth quarter. Veidekke’s largest shareholders are OBOS (27.6 per cent), IF Skadeförsäkring AB (8.6 per cent) and Folketrygdfondet (8.1 per cent). Foreign investors hold 20.7 per cent of the shares.
Share issues to employees
In the period 7 – 21 November, all employees were offered to buy shares in the company. The price of the shares was NOK 13.95, which is equivalent to the average share price in the order period with a 20 per cent discount.
A total of 2,118 employees ordered altogether nearly 3.5 million shares. 2.5 million shares were set aside for sale, and this made it necessary to reduce some individual orders, making the largest reductions in the largest orders.
After the sale 2,898 of the company’s employees own a little more than 18 per cent of the Veidekke shares.
Share buyback
The Board of Directors has resolved that the company’s management may repurchase up to three per cent of Veidekke’s shares, in line with the authorisation granted by the company’s Annual General Meeting in May 2008. As of 31 December, Veidekke had repurchased 2,254,400 shares, or 1.7 per cent of all outstanding shares. The average purchase price was nok 37.30, and the total cost price paid amounted to MNOK 84.1.
Read more about the share-buy back programme here.
