Westwing Group SE Announces Public Share Buyback Offer

Westwing Group SE, based in Munich, announced a resolution to initiate a public share buyback offer. The decision was backed by the supervisory board and targets the repurchase of up to 1,200,000 shares at EUR 8.25 per share. The total transaction is valued at approximately EUR 9.9 million. U.S. shareholders are also eligible to participate through a distinct offer document.

The repurchase offer will commence on November 12, 2024, and conclude on December 10, 2024. This initiative falls under the authorization granted at the Annual General Meeting on June 19, 2024, which permits the buyback of up to 10% of the company’s share capital by June 2029. Westwing Group SE currently owns 885,795 treasury shares, making up 4.24% of its share capital.

The offer document will be available on Westwing's website and published in the German Federal Gazette. This strategic move aims to enhance shareholder value and utilize surplus financial resources effectively.