The offer, which is limited to 440,000 shares, is given within the scope of the repurchase authorization of up to 10 percent that the general meeting gave the board last year.
On Tuesday morning, Wilhelmsen’s A share was traded for NOK 366.50, up 5 per cent, while the B share was up 4.7 per cent to NOK 355.
In 2019, Wilhelmsen bought back some 1.8 million own shares and in May 2023 a further 400,000 shares. In 2019, the share stood at between NOK 143 and 148.
The buyback is handled by brokerage DNB Markets on behalf of Wilhelmsen.
Great added value
At the beginning of November last year, Finansavisen wrote that an internal document showed that Wilh. The Wilhelmsen Holding share was then traded at a discount of nearly 60 per cent of the value-adjusted equity.
According to this calculation, value-adjusted equity in Holding was USD 3,072 million at the turn of the previous year. Converted according to Tuesday’s exchange rate, it corresponds to NOK 33.5 billion, or NOK 751 per stock.
The maritime industry group published its fourth-quarter figures a month and a half ago. At the same time, the company announced that over time it will have a dividend yield of 3–5 per cent.
The proposed dividend after last year is up to NOK 18, which is proposed to be paid out in two instalments; NOK 10 at the end of May and up to NOK 8 during the third quarter.
The final dividend decision must be taken by the general meeting in May.
Tags: Wilhelmsen buys shares Finansavisen
