Sharecount and buybacks
Share buybacks and changes in number of registered shares.
Number of shares | NOK million | Total number of shares | |
Initial Public Offering 4 Dec 2000 | 1 802 151 899 | ||
Share buyback 2003-2004 | |||
Repurchased in the open market for cancellation | 12 810 000 | 620 | |
Redemption of shares from Norwegian state | 14 531 792 | 695 | |
Cancellation of addional treasury shares | 28 103 172 | ||
Shares for cancellation following AGM in May 2004 | 55 444 964 | 1 316 | 1 749 272 646 |
Share buyback 2004-2005 | |||
Repurchased in the open market for cancellation | 20 191 700 | 1 014 | |
Redemption of shares from Norwegian state | 23 672 725 | 1 185 | |
Shares for cancellation following AGM in May 2005 | 43 864 425 | 2 199 | 1 706 570 293 |
Share buyback 2005-2006 | |||
Repurchased in the open market for cancellation | 12 105 182 | 653 | |
Redemption of shares from Norwegian state | 14 190 541 | 766 | |
Shares for cancellation following AGM in May 2006 | 26 295 723 | 1 419 | 1 680 274 570 |
Share buyback 2007-2008 | |||
Repurchased in the open market for cancellation | 10 305 222 | 1 149 | |
Redemption of shares from Norwegian state | 12 080 502 | 1 347 | |
Shares for cancellation following AGM in May 2008 | 22 385 724 | 2 495 | 1 657 888 846 |
Share buyback 2010-2011 | |||
Repurchased in the open market for cancellation | 22 877 098 | 2 156 | |
Redemption of shares from Norwegian state | 26 818 135 | 2 528 | |
Shares for cancellation following AGM in May 2011 | 49 695 233 | 4 684 | 1 608 193 613 |
Share buyback 2011-2012 | |||
Repurchased in the open market for cancellation | 22 209 858 | 2 020 | |
Redemption of shares from Norwegian state | 26 035 950 | 2 369 | |
Shares for cancellation following AGM in May 2012 | 48 245 808 | 4 389 | 1 559 947 806 |
Share buyback 2012-2013 | |||
Repurchased in the open market for cancellation | 19 943 900 | 2 235 | |
Redemption of shares from Norwegian state | 23 379 635 | 2 620 | |
Shares for cancellation following AGM in May 2013 | 43 323 535 | 4 856 | 1 516 624 271 |
Share buyback 2013-2014 | |||
Repurchased in the open market for cancellation | 6 981 748 | 919 | |
Redemption of shares from Norwegian state | 8 184 493 | 1 048 | |
Shares for cancellation following AGM in May 2014 | 15 166 241 | 1 966 | 1 501 458 030 |
Share buyback 2017-2018 | |||
Repurchased in the open market for cancellation | 13 810 438 | 2 382 | |
Redemption of shares from Norwegian state | 16 189 561 | 2 734 | |
Shares for cancellation following AGM in May 2018 | 29 999 999 | 5 116 | 1 471 458 031 |
Share buyback 2018-2019 | |||
Repurchased in the open market for cancellation | 13 350 090 | 2 129 | |
Redemption of shares from Norwegian state | 15 649 909 | 2 380 | |
Shares for cancellation following AGM in May 2019 | 28 999 999 | 4 509 | 1 442 458 032 |
Share buyback 2019-2020 | |||
Repurchased in the open market for cancellation | 19 794 961 | 3 571 | |
Redemption of shares from Norwegian state | 23 205 038 | 4 186 | |
Shares for cancellation following AGM in May 2019 | 42 999 999 | 7 757 | 1 399 458 033 |
Share buyback 2023-2024 | |||
Repurchased in the open market in 2023 for cancellation | 14 320 524 | 1 703 | |
Redemption of shares from Norwegian state in 2024 | 16 787 520 | 1 894 | |
Shares for cancellation following AGM in 2024 | 31 108 044 | 3 596 | 1 368 349 989 |
About buybacks in Telenor
Prior to any share buybacks the Management and the Board of Telenor reviews the Group’s cash flow and capital allocation priorities, such as dividends, total shareholder remuneration, leverage and credit profile.
Historically, Telenor Group’s Annual General Meetings (AGM) have been held in May every year, where the Board of Telenor, if deemed appropriate, has asked shareholders for authorisation to acquire own shares for cancellation. Shares have then been repurchased throughout the year until May the year after, whereby the repurchased shares are cancelled, subject to approval by shareholders
Furthermore, the Norwegian state as Telenor’s largest shareholder, has historically participated in the share buybacks on a proportionate basis by way of redeeming such a number of shares so that the Norwegian state’s ownership in Telenor has been unaffected.
The shares that are repurchased by Telenor in the open market have immediate cash effect whereas the redeemed pro rata shares from the Norwegian state have been paid by Telenor simultaneously with the capital reduction, estimated to occur in July-August following the May AGM.