Amid Acquisitions Speculation, FPC Concludes Share Capitalization Effort

“…FPC explained that the aim of this operation was ‘to optimize the company’s capital structure and to create flexibility in terms of the company’s possibilities of implementing corporate acquisitions.'”

Fingerprint Cards (FPC) has concluded its elaborate share buy-back operation.

Amid Acquisitions Speculation, FPC Concludes Share Capitalization EffortThe plan was first determined back in May of this year, a development from the company’s Annual General Meeting, and was set into action in June. It would see FPC acquire its own Class B shares in such a way as to ensure that they never exceeded a 10 percent stock in the company,

In a new statement, FPC explained that the aim of this operation was “to optimize the company’s capital structure and to create flexibility in terms of the company’s possibilities of implementing corporate acquisitions.” Now, it has announced that it has concluded these activities, with a total of 10,228,000 shares acquired between June 3rd and September 15th at a total cost of SEK 1,032 M. According to the company’s statement, the average price was SEK 101.

The announcement follows recent statements from FPC’s new CEO, Christian Fredrikson, asserting that the company is actively considering acquisitions to help it expand beyond the mobile biometrics sector that has been its bailiwick.

September 16, 2016 – by Alex Perala