Eco Wave Power's Share Repurchase Program To Repurchase Up To 10% ADS Of The Total Shares Of The Co Is Approved By The Company's Shareholders At The 2023 Annual General Meeting
Portfolio Pulse from Happy Mohamed
Eco Wave Power Global AB (NASDAQ:WAVE) has announced its intention to set up a share repurchase program to repurchase American Depositary Shares corresponding to up to 10 percent of the total number of shares in the Company. The program was approved by Eco Wave Power's shareholders at the 2023 Annual General Meeting. The repurchase is conditional on necessary permits being obtained from the Swedish Financial Supervisory Authority.
July 06, 2023 | 2:18 pm
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Eco Wave Power's share repurchase program could potentially increase the stock price in the short term as it reduces the number of shares available in the market.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to an increase in the stock price as the number of shares available in the market decreases. This could potentially lead to a short-term increase in Eco Wave Power's stock price.
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