NASDAQ OMX has sold its 25.25% share in Orc Software to a mix of Swedish and international investors at SEK110 (USD14.12) a share, with Orc a likely buyer of shares.
“We have had a close relationship as owner and partner to Orc Software since its founding 20 years ago. It has been gratifying to have been able to follow the company’s journey up close from a startup to a world-leading, front-end trading applications and connectivity solutions provider,” says Magnus Bocker, President of NASDAQ OMX. “Our cooperation will certainly continue going forward.”
It is highly likely that Orc bought back a significant amount of shares on offer after a proposal was put forward at an Orc Software AGM in April. At the AGM it was stated that: “The proposal authorizes the Board of Directors to repurchase and transfer shares in the company on one or several occasions during the period until the next AGM. The repurchase of shares will take place on the NASDAQ OMX Nordic Exchange Stockholm at a price per share that falls within the registered price interval for the share at any given time, defined as the interval between the highest bid price and the lowest offer price.”