Standard Life Aberdeen pushes on with share buyback

A stock exchange announcement posted this week shows the firm, which has suffered outflows since forming through merger in 2017, purchased 962,182 ordinary shares on Monday at an average 247p.

The deal is part of its £1.75 billion buy-back which was announced last year and follows the purchase earlier this month of shares worth £238 million held by Goldman Sachs. The company purchased 939,492 ordinary shares from Goldman at a range of prices, the average of which is £2.52p.

Such purchases are under the instructions issued by the company in June last year.

The first phase of the buyback was completed in November and resulted in the repurchase and cancellation of 58,585,389 ordinary shares for a total of £174,999,998.

The first tranche of the second phase was completed on November 20th when a further £200m of the repurchase scheme began and is expected to end no later than 27 March.