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Yara initiates share buy-back

Written by Customer Service on . Posted in Mergers And Acquisitions.

Oslo, 25 August 2020: Reference is made to Yara’s second-quarter 2020 report, where Yara stated it will initiate a buyback of 5% of share capital upon completion and receipt of the Qafco proceeds. Yara has now received the USD 1 billion Qafco proceeds and will consequently initiate a share buy-back program to buy back up to 8,551,880 of its shares outstanding in the open market. Including the proportional redemption of shares owned by the Norwegian state, the total buyback and redemption will amount to approximately 5.0% (13,406,611 shares) of shares outstanding.

 Yara has issued an external bank mandate subject to “safe harbour” exemptions to execute the share purchases, which will be carried out in the period 1 September 2020 – 23 March 2021.

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