Bond.az -- Evolution (ST:EVOG) shares jumped more than 10% on Monday after the Swedish online casino provider announced a 2 billion euro share buyback programme.
The company also entered into a 300 million euro senior unsecured revolving credit facility to support the initiative.
Kepler Cheuvreux noted the scale of the programme, commenting that this initiative represents one of the largest buyback programs in Sweden’s history and is significant in relation to a market capitalization of 12.1 billion euros, constituting approximately 16.5%.
The buyback represents a substantial return of capital to shareholders for the gaming technology company, which provides live dealer casino solutions to online gaming operators globally.
