Denmark’s A.P. Møller – Mærsk A/S has entered the second phase of its share buy-back program, which will be limited to a maximum of 75,000 A shares and 300,000 B shares valued at DKK 3.32 billion (USD 550 million).
Maersk has initiated the DKK 5.6bn (USD 934m) share buy-back program back in August, said to be executed during a 12 months period.
During the first phase of the program, Maersk had bought 33,608 A shares and 134,533 B shares for around USD 400 million.
The second phase of the program will run from November 24, 2014 to February 28, 2015.
Maersk has appointed Danske Bank as lead manager for the second phase of the share buy-back.
After the completion of the first phase, Maersk holds 33,608 A shares and 237,315 B shares, equal to 0.2% and 1.1% of the share capital, respectively.