Hemnet Group AB (OM:HEM) commences an Equity Buyback Plan, under the authorization approved on April 25, 2024.
May 06, 2024 at 03:30 pm
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Hemnet Group AB (publ) (OM:HEM) commences share repurchases on May 2, 2024, under the program mandated by the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase its own shares, such that the company's holding at no time exceeds 10% of the total amount of company's shares. The purpose of the program is to give the board the possibility to adjust the capital structure of the company. The program will be valid until the annual general meeting 2025.
On April 25, 2024, the company announced a share repurchase program. Under the program, the company will repurchase its own shares for worth SEK 450 million, such that the company's holding at no time exceeds 10% of the total amount of company's shares. The purpose of the program is to adjust company's capital structure. The program will be valid till date of the annual general meeting 2025. As of April 25, 2024, the company had 98,351,050 shares outstanding and 2,349,520 shares in treasury.
Hemnet Group AB (publ) is a Sweden-based company, that operates property platform in Sweden. The Companyâs business model is based on platforms, applications, and Internet Websites. By offering a combination of products, insights and inspiration, Hemnet develops lasting relationships with buyers, sellers and real estate agents. Hemnet Groupâs focus is on developing smart and intuitive tools that help visitors navigate virtually among all of Swedenâs available supply of housing for sale, while creating engagement through data, informative articles and individually tailored monitoring. The Company's network effect is based on housing sellers and real estate agents benefit from the fact that more home buyers are on Hemnet, at the same time as home buyers conversely benefit from more home sellers and real estate agents are available on the platform.
HEMNET GROUP AB 
