Festi hf. Completes Share Repurchase for 239,232 Shares
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Festi hf., an Icelandic company, has completed a significant share repurchase during week 37 of 2026. The firm purchased 239,232 of its own shares, valued at 72,698,064 Icelandic krona (ISK). This acquisition brings Festi’s total repurchases to 2,289,445 shares, amounting to 708,380,103 ISK, since the program’s announcement on July 1, 2026.
As of the latest purchase, Festi now holds a total of 5,968,309 own shares, representing 1.91% of the issued share capital. The company’s buyback program, which was announced on July 1, 2026, is designed to repurchase up to 3,000,000 shares, or 0.96% of the issued share capital, with a total purchase price not exceeding 1,000 million ISK.
The transactions are in compliance with relevant legal frameworks, including the Act on Public Limited Companies No. 2/1995, Article 5 of the Regulation of the European Parliament and of the Council No. 596/2014, the Commission Delegated Regulation No. 2016/1052, and the Act on Actions against Market Fraud No. 60/2021. These measures ensure that the repurchase activities are conducted in a transparent and regulated manner.
Festi’s share repurchase program is part of its ongoing strategy to optimize capital structure and enhance shareholder value. The company’s CFO, Magnús Kr.
The repurchase program is expected to continue, with Festi aiming to complete the remaining shares by the end of the year. The company’s next move will be to monitor market conditions and make further purchases as deemed appropriate.