Festi stock: Buyback accepts 2.67 million shares at ISK 293
Published on 11/09/2026 at 02:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSBuyback result sets capital return terms
- Festi accepted shareholder offers in a reverse tender offer and set settlement for November 6, 2026.
- The company said its treasury shares would rise to 2.99 percent of issued share capital after the purchase.
Festi hf. accepted offers for 2,668,681 of its own shares at ISK 293.00 per share in a reverse tender offer, according to a Financial Times Company Announcements report sourced from GlobeNewswire and published on November 4, 2026.
Reverse tender offer reaches outcome
The accepted shares were priced at ISK 293.00 each, producing a total purchase amount of ISK 781,923,533. Settlement was scheduled for November 6, 2026.
Following the purchase, Festi said it would hold 9,347,545 treasury shares, equal to 2.99 percent of its issued share capital. The result converts the previously announced buyback authorization into a defined capital-return transaction, although the announcement does not provide a broader valuation assessment.
What shareholders should watch next
The immediate point for investors is the change in treasury-share holdings after settlement. Future company announcements on additional repurchases, capital reduction or employee share-option obligations could shape the longer-term effect on the issued share base.
Festi buyback facts
- Company: Festi hf.
- Announcement date: November 4, 2026
- Accepted shares: 2,668,681
- Purchase price: ISK 293.00 per share
- Total purchase amount: ISK 781,923,533
- Settlement date: November 6, 2026
- Treasury shares after purchase: 9,347,545, or 2.99 percent of issued share capital
