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Standard Life Aberdeen continues share buyback

Bonds-Shares-Portfolio-Stock-UK-Investment-700x450.jpgStandard Life Aberdeen has continued to buy back shares from investors following the sale of its life arm to Phoenix last year.

A stock exchange announcement this morning shows it purchased 962,182 ordinary shares yesterday (11 February) at an average 247p.

This follows daily transactions since the announcement last summer for a £175m first tranche of the share buyback programme.

The first tranche was completed in November and resulted in the repurchase and cancellation of 58,585,389 ordinary shares for a total of £174,999,998.

A further tranche of £200m of the repurchase scheme began on 20 November and is expected to end no later than 27 March.

The company has suffered outflows since forming through merger in 2017. Lloyds cancelled a mandate run for Scottish Widows by Aberdeen because it felt the addition of Standard Life could turn the new firm into a competitor.

Part of the mandate went to Schroders who announced a joint “strategic partnership” with Scotish Widows parent Lloyds for at least five years.


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. Well who else would buy these awful shares. 1/2/18 Price – 424.50. Price on 1/2/19 – 255.25. That is just about a 40% drop in one year. They are going to have to buy an awful lot of their own shares to bring the price back up.

    Very bad news for those who have held the shares since (say) 2015. Perhaps (and it is very much a perhaps) worth a punt for new investors? Personally I wouldn’t touch them.

  2. When a company like Mitsubishi Trust sells its entire holding at a discounted price 349 million it makes you wonder what they know.

    Why would someone offload at a time when the share price has lost around 50% unless they have completely lost confidence in the company

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