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DNB completes share buyback program

DNB ASA completed a share buyback program announced July 12, repurchasing a total of approximately 8.1 million shares, or 0.5% of its registered share capital.

The Norwegian lender repurchased 5.4 million shares in the open market at a weighted average price of 152.75 Norwegian kroner per share. It also redeemed 2.7 million shares from the government to prevent dilution of the state's 34% ownership in the bank.

DNB will cancel the repurchased shares, subject to approval at the 2018 annual general meeting. The bank will return approximately 821 million kroner to shareholders through the buyback.

As of Aug. 14, US$1 was equivalent to 7.92 Norwegian kroner.