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A.P. Møller Maersk has launched the second phase of its share buyback programme, setting aside up to DKK 3.15 billion, around $500 million, to repurchase shares before the end of January 2027.
The Danish shipping and logistics group began the second phase on August 13 after completing an initial DKK 3.15 billion round on August 5. Together, the two phases form a DKK 6.3 billion programme announced in February and scheduled to run for 12 months.
The company intends eventually to cancel the repurchased shares, reducing the number of shares in circulation and adjusting its capital structure.
Purchases capped across two share classes
Maersk may acquire a maximum of 350,000 A shares and 1.4 million B shares during the latest phase, which will continue up to and including January 29, 2027.
Purchases will follow a 20% allocation to A shares and 80% to B shares, reflecting trading volumes across the two share classes.
Daily purchases may not exceed 22.5% of the average daily trading volume for each class on Nasdaq Copenhagen during the preceding 20 trading days. The purchase price cannot exceed the higher of the latest independent trade or the highest independent offer price available on the trading venue.
Before the second phase began, Maersk held 38,248 A shares and 222,032 B shares in treasury. These holdings represented 1.77% of its share capital.
Nordea takes control of trading decisions
Nordea has been appointed lead manager for the second phase and will make trading decisions independently, within the limits established by Maersk.
The structure is designed to comply with the European Union Market Abuse Regulation and its Safe Harbour Regulation. These rules protect the company, its board and its executive management against breaches of insider trading legislation while the programme is active.
Maersk will publish information about completed purchases no later than every seventh trading day. The company may suspend or terminate the programme at any time, provided that it makes an announcement to Nasdaq Copenhagen.
Foundation maintains ownership position
A.P. Møller og Hustru Chastine Mc-Kinney Møllers Familiefond will participate by selling shares in proportion to its 9.83% ownership as of August 12, excluding treasury shares.
The foundation will sell only B shares while it continues to hold that class. If its remaining position consists solely of A shares, those shares may be sold instead.
The programme operates under authority granted by shareholders in March 2025, allowing Maersk to acquire treasury shares representing up to 15% of its share capital at the prevailing market price, with a permitted deviation of up to 10%.
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