The Swiss derivatives specialist launches a share buyback program and provides an update on its IT cooperation with Raiffeisen banks.
Leonteq launches the share buyback program announced last February on April 3 which is expected to run until the end of December 2023 as part of a capital reduction according to a media release Friday.
The share buyback of up to 18 million Swiss francs ($19.7 million) will take place via a second trading line on the SIX Swiss Exchange, with Leonteq acting as the sole buyer, with execution dependent on market conditions.
Leonteq's board of directors intends to propose a capital reduction for the shares repurchased under the program at the next annual general meeting.
Raiffeisen IT Connection
In a separate announcement, Leonteq provided an update that the work to connect its technology and services platform to a Raiffeisen structured products platform is ongoing. As previously announced, the extension of the cooperation agreement between the two parties from 2026 to 2030 is subject to the successful completion of the technological connection between Leonteq’s and Raiffeisen’s platforms.
Leonteq and Raiffeisen expect the project, including testing, to be concluded in May of this year.
