a.s.r. intends to repurchase shares from NLFI in final offering
ASR Nederland N.V. (a.s.r.) intends to repurchase 3,000,000 of its shares in the fifth and final offering of a.s.r. shares by stichting administratiekantoor beheer financiële instellingen (NLFI), which acts on behalf of the Dutch State. Today NLFI announced its intention to sell 30.15 million ordinary shares, representing the remaining 20.5% of the issued share capital of a.s.r.
The shares are being offered by NLFI to qualified investors through an accelerated bookbuilding procedure. a.s.r. intends to place an order to repurchase 3,000,000 shares, being 2% of the total issued share capital. NLFI will allocate a.s.r.'s order in whole.
The repurchase will be financed from the company's own funds and is in line with a.s.r.’s strategy of using capital in value creating opportunities and by returning capital to its shareholders in an efficient manner. The repurchase has a limited impact on a.s.r.’s solvency ratio. In the past year, a.s.r. has given effect to its commitment to support the Dutch State in scaling back its equity interest in a.s.r. by repurchasing 6 million shares from NLFI in January and June, for a total amount of € 153 million.
With this final transaction, the Dutch State completely brings back its interest in a.s.r. to the private market. The offer price will be determined by NLFI at the conclusion of the bookbuilding process and will be announced in a separate press release.