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RAPAPORT... Pandora repurchased another $1.74 million (DKK 9.76 million) worth of shares this past week and has increased its share buyback purse to 64.4 percent of the original $124.8 million (DKK 700 million) goal that was established in February.
The jewelry retailer implemented a share buy back program to reduce Pandora's share capital and meet obligations arising from employee share option agreements. Under the current program, the company has about $44.4 million (DKK 249.1 million) in remaining funds allocated for share repurchasing before it expires on December 31.
Pandora's shares are trading more than 161 percent higher year on year and closed today in Copenhagen basically flat at $39.59 (DKK 222.60).
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