Boardmember Anders Ström’s investment company, Veralda Group, announced Monday it has increased its ownership in Kambi Group with approximately 650,000 shares in the period between October 27 and November 19, 2021.
Veralda now holds 6,078,188 shares in Kambi, which account for 19.57% of the company’s capital.
The changes in ownership occured as Veralda Investment acquired 777,624 shares in Kambi, in three batches between October 27-29, 12 and 16 November and on 19 November.
On November 18, Veralda AB sold 125,000 shares in Kambi while terminating the endowment insurance. In total, Veralda Group has made a net acquisition of 649,624 shares in Kambi for SEK147.1 million ($162.5 million).
These changes occurred after Kambi announced its numbers for 2021’s third quarter, and the company’s CEO Kristian Nylén said Kambi would enter a share buyback scheme, which ran from October 27 until November 10, up to a total of $13.5 million.
The goal of this program, impulsed by the company’s Board of Directors, was to achieve added value for Kambi’s shareholders and to give the Board increased flexibility with Kambi’s capital structure.
This scheme was carried out after Kambi entered into an agreement with Carnegie Investment Bank AB to conduct the share repurchases on its behalf.