Síminn hf. repurchased nearly three million of its own shares for 37.4 million ISK in week 30 2026 under its ongoing share buyback programme
Executive summary: Síminn hf. bought back 2,959,127 of its own shares for 37,441,131 ISK during week 30 of 2026 as part of its share repurchase programme. The repurchase lowers the number of outstanding shares, which can increase earnings per share and return capital to shareholders; it also reflects management’s view that the stock is undervalued.
Who is involved: Síminn hf. (Icelandic telecommunications operator), its shareholders, and the Icelandic Financial Supervisory Authority (FME) which oversees disclosure obligations under the EU Market Abuse Regulation.
Likely next: Síminn will continue to report weekly buyback transactions; the next disclosure for week 31 is expected in early August 2026, and the board may review the remaining repurchase authorization by the end of Q3 2026.
Síminn announced that during the 30th week of 2026 it bought back 2,959,127 own shares at a total cost of 37,441,131 Icelandic króna. The transaction was disclosed in a regulatory notice consistent with the company’s previously announced buyback plan. The move reduces the outstanding share base, potentially boosting earnings per share, and signals management’s confidence in the company’s valuation while deploying cash reserves.
Timeline
- — Síminn hf. - Reglubundin tilkynning um kaup á eigin bréfum í samræmi við endurkaupaáætlun (GlobeNewswire)
Analysis — what this means
Likely next events
- Síminn expected to publish week‑31 buyback results by 5 August 2026
- Board may review the remaining buyback authorization (up to 10 % of shares) by 30 September 2026
- FME requires disclosure of any share‑holding change within two business days – already satisfied for the week‑30 transaction
Sectors affected
- Telecommunications (Iceland)
- Capital markets
- Share‑buyback services
Regulatory implications
- Under the EU Market Abuse Regulation (applicable in the EEA), Síminn must disclose share repurchase transactions to the FME within two business days; the notice was released the same day, meeting this requirement
Historical parallels
- Síminn week‑28 buyback: 3,000,000 shares for 37,050,000 ISK (13 July 2026)
- Síminn week‑29 buyback: 4,000,000 shares for 49,800,000 ISK (20 July 2026)
- Islandsbanki hf. executed a €150 million share buyback in Q4 2025
Key entities
Sources
- Síminn hf. - Reglubundin tilkynning um kaup á eigin bréfum í samræmi við endurkaupaáætlun — GlobeNewswire
- Síminn hf. - Reglubundin tilkynning um kaup á eigin bréfum í samræmi við endurkaupaáætlun — GlobeNewswire
- Síminn hf. - Reglubundin tilkynning um kaup á eigin bréfum í samræmi við endurkaupaáætlun — GlobeNewswire