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Current share buyback program

ABB share buyback program was launched on April 1, 2022

ABB launched on April 1, 2022 its previously announced new share buyback program of up to $3 billion. Based on the ABB share price at that time this represents a maximum of approximately 89 million shares. The maximum number of shares that may be repurchased under this new program on any given trading day is 1,262,310.

This new program is consistent with ABB’s capital allocation principles and its capital structure optimization program targeting to maintain a strong investment grade rating. As part of this program, the company intends to return to its shareholders the remaining $1.2 billion of the $7.8 billion of cash proceeds from the Power Grids divestment. Since July 2020, ABB repurchased a total of 218,686,689 shares for a total amount of approximately $6.6 billion.

The total number of ABB’s issued shares is 2,053,148,264 including the 88,403,189 shares approved for cancellation at ABB’s 2022 Annual General Meeting (AGM). ABB currently owns approximately 124 million treasury shares.

The share buyback program is for capital reduction purposes and will be executed on a second trading line on the SIX Swiss Exchange (Valor: 35.767.961; ISIN: CH035 767 961 9). It is planned to run from April 1, 2022 until March 22, 2023. At the company’s AGM on March 23, 2023, ABB intends to request shareholder approval to cancel the shares purchased through this new program as well as those shares purchased under the previous program that were not proposed for cancellation at ABB’s 2022 AGM.

The share buyback program will be managed by a bank mandated by ABB that, based on the trading instructions given by ABB to the bank, will make its trading decisions concerning the timing of share repurchases independently of ABB. ABB can change these parameters outside of its closed periods and if it is not in possession of any inside information.

The purchase price per share will not exceed the higher of the price of the last independent trade on the ordinary trading line on the SIX Swiss Exchange and the highest current independent bid price on the ordinary trading line on the SIX Swiss Exchange. In addition, customary spreads on purchases on the second trading line on the SIX Swiss Exchange will be paid, observing the limitations of the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO). Payment for the shares will be made in cash.

The buyback program is being carried out in accordance with the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (FMIO), the Market Abuse Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) No 2016/1052.

 

Official notices in German, French and English

The program is executed on a second trading line on the SIX Swiss Exchange

Repurchases of ABB shares for capital reduction purposes are carried out on a second trading line on the SIX Swiss Exchange. Only ABB through its mandated bank can purchase shares on this second trading line (see official notices). The repurchase prices and trading prices of ABB shares on the second trading line are based on the trading prices of ABB shares on the ordinary trading line.

A shareholder wishing to sell ABB shares may do so either on the ordinary trading line or on the second trading line. ABB shares sold on the second trading line are subject to Swiss federal withholding tax at a rate of 35 percent on the difference between the repurchase price of the ABB share and its nominal value of CHF 0.12. This tax will be deducted from the repurchase price. Shareholders domiciled in Switzerland are entitled to a reimbursement of the withholding tax provided they are beneficial owners of the shares at the time those are surrendered and provided they do not avoid taxes (art. 21 of the Withholding Tax Law). Shareholders domiciled outside Switzerland may reclaim the withholding tax in accordance with any applicable double taxation treaties.*

ABB registered shares on the ordinary and second trading lines
ABB Ltd  Valor No ISIN Ticker
Ordinary trading line 1 222 171 CH 001 222171 6 ABBN
Second trading line 35 767 961 CH 035 767961 9 ABBNE

ABB's share buybacks transaction reporting

Summary transaction reporting

2022
Maximum daily repurchase volume in accordance with applicable regulations

1,262,310 shares

*Tax disclaimer: All investors must seek their own specific tax advice, and nothing herein is intended or should be considered as tax advice.