In addition, the company enters into a so called total return swap (TRS) of around 3 percent of Adevinta’s issued shares. In a TRS agreement, the person/company who disposes of the value will receive dividends on the item at the same time as they will be exposed to any increase – or decrease – in value that the item may have during the period.
Schibsted reports that the proceeds from the capital allocation will be used to reduce the company’s net interest-bearing debt, and to initiate a buyback program of up to 4 percent of the company’s shares.
You can find the stock exchange announcements under “Regulatory Releases” here
