Vend Marketplaces Buys Back NOK 78.5 Million of Shares in Latest Week

Vend Marketplaces bought 328,000 of its own shares for NOK 78,509,529 between September 7 and September 11, extending the second and final tranche of a larger NOK 4 billion repurchase programme. The shares were acquired at a weighted average price of NOK 239.3583 during the five-day period.

Purchasing was light at the start of the week and increased as the period progressed. Vend bought 40,000 shares on both September 7 and September 8. The largest daily purchase came on September 10, when 96,000 shares were acquired for about NOK 22.63 million at a weighted average price of NOK 235.7227. Another 60,000 shares were bought on September 11 at an average NOK 237.9645.

In its September 14 regulatory disclosure, Vend said the second tranche has now covered 2,078,000 shares at a total cost of NOK 513,563,833. The cumulative weighted average price for that tranche is NOK 247.1433 per share. After the latest purchases, Vend held 10,835,396 of its own shares, equal to 5.14% of total issued shares.

Second tranche is about one-quarter used by value

The current tranche began on August 6 and is capped at NOK 2 billion. Based on the amount spent so far, Vend has used about 25.7% of that ceiling, leaving roughly NOK 1.49 billion of potential purchasing capacity by value. The cap is not a commitment to spend the full amount. Vend has said execution depends on market conditions and that it can end the programme before the limit is reached.

Skandinaviska Enskilda Banken AB is carrying out the purchases under a non-discretionary agreement. Vend said the bank makes its trading decisions independently. The second tranche may run through December 31, 2026, and permits purchases between NOK 50 and NOK 500 per share. The maximum number of shares that may be acquired under this tranche is 12,316,028, reflecting the board authorisation approved by shareholders and the number already acquired in the first tranche.

The first NOK 2 billion tranche was completed on August 5. It covered 8,224,547 shares at a weighted average price of NOK 243.1745, with total spending of NOK 1,999,999,872. Adding the second-tranche purchases disclosed through September 11 brings spending under the April programme to about NOK 2.51 billion. That is roughly 62.8% of the programme’s maximum NOK 4 billion value, although future purchases remain subject to the conditions and limits set out by Vend.

Programme is designed to reduce share capital

Vend has been explicit about the purpose of the repurchases. Most of the shares acquired under the programme are intended for cancellation, subject to approval at a future general meeting. A smaller portion can be used for the company’s employee share saving plan and long-term incentive plans. The stated objective is to reduce the company’s capital after the required shareholder approval rather than retain all repurchased shares indefinitely.

The board authority underpinning the current programme was approved at Vend’s annual general meeting on April 30. When the first tranche was announced that morning, Vend described the broader NOK 4 billion programme as part of its previously communicated intention to return capital to shareholders. The first tranche was initially allowed to run as late as October 30, but it reached its NOK 2 billion value limit by August 5, allowing the second and final tranche to begin the following day.

The latest treasury-share figure also shows how large the company’s own-share position has become relative to its issued equity. Vend’s 10.84 million own shares represent just over 5% of the issued total. That holding is not identical to the cumulative purchases under the April programme because Vend already held own shares before the current programme and can use some treasury shares for employee-related plans.

Buybacks remain central to Vend’s capital return

The current programme follows a series of portfolio disposals and capital-return decisions earlier in 2026. In March, after completing the sale of Lendo Group, Vend said recent disposals of Lendo and Mittanbud had generated about NOK 1.3 billion in cash proceeds. Together with an expected capital distribution of about NOK 3.2 billion related to the sale of Adevinta Spain, Vend said it had received or expected about NOK 4.5 billion from those exits during the first quarter.

At that time, CFO Per Christian Mørland said Vend’s primary focus for distributing surplus capital remained share buybacks. The NOK 4 billion programme announced on April 30 followed that capital-allocation message. By July 10, Vend had already repurchased about NOK 1.6 billion under the first tranche, according to its second-quarter results.

Those second-quarter results provide some operating context for the capital return. Vend reported NOK 1.696 billion of group revenue, flat from a year earlier, while EBITDA rose 16% to NOK 674 million and the EBITDA margin increased to 40% from 34%. The company also reported continued growth in its Real Estate, Jobs and Recommerce verticals, while parts of Mobility remained under pressure.

The second tranche can continue until December 31 unless Vend ends it sooner. At the latest disclosed level, the company still has substantial capacity under the NOK 2 billion tranche ceiling, but the timing and size of further purchases will depend on market conditions and the independent execution arrangement with SEB. For the shares ultimately designated for cancellation, Vend has said it will seek approval from a future general meeting.