DSV A/S began a share buyback of up to DKK 1.5 billion Wednesday, saying the purchases will help manage its capital structure and fulfill commitments under share-based incentive plans.
The program allows DSV to repurchase no more than 2.6 million shares, equal to 1.09% of its current share capital. It is scheduled to finish no later than Feb. 1, 2027.
Separately, DSV said it expects to complete its integration of Schenker by the end of 2026 and remains on track to lower its leverage further. The company identified capital structure and incentive-plan obligations as the purposes of the buyback.
The board is acting under an authorization shareholders granted March 20, 2025. That authority permits repurchases of up to 24,044,000 shares and remains valid until March 20, 2030. DSV plans to seek shareholder approval at a future general meeting to cancel shares it does not use for incentive plans.
Danske Bank A/S will manage the program and decide when to trade without direction from DSV. On any trading day, purchases are limited to one-quarter of DSV’s average daily trading volume on Nasdaq Copenhagen over the previous 20 trading days. The announcement also sets limits on the price DSV may pay for each share.
DSV said it will disclose purchases each week during the program and publish a final transaction announcement when it ends, no later than Feb. 1, 2027.
