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Norwegian bank DNB to launch share buyback

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Norwegian bank DNB to launch share buyback

Norwegian bank DNB ASA said it will initiate a new share buyback program.

The program comprises up to 1.5% of the bank's shares calculated after completion of the capital reduction resolved in connection with the buyback carried out prior to the annual general meeting in 2018, which represents a total of about 24.1 million shares.

Up to about 15.9 million of the shares will trade in the open market. Up to about 8.2 million of the shares owned by the state of Norway will be redeemed.

Meanwhile DNB said it resolved to reduce its share capital.