European accounts receivable management firm Intrum Justitia said last week that it had completed its previously announced plan to repurchase 250,000 of its shares to buoy a stock-based compensation program.
Intrum, based in Stockholm, Sweden, announced last month that it would be repurchasing the block of share to use in a performance-based stock compensation program for senior management (“Intrum Justitia Announces Major Rebranding, Repurposing and Share Repurchase,” May 15).
The company said it purchased the shares at an average price of $16.83. Intrum’s stock closed at $16.50 in trading Friday.
Intrum’s board had authorized a share repurchase of up to 400,000 shares. The company noted in a release that it may still buy an additional 150,000 shares.
Intrum Justitia is one of Europe’s largest debt purchasers and collectors with 3,100 employees in 24 countries.
