Sep. 22 at 11:04 PM
$NVO The foundation holds a majority stake, so they don't need to buy shares—that’s what the buyback is for. It’s carried out by a bank on Novo’s behalf, involving around 220,000 shares daily on the Danish market. Neither the foundation nor the management is overly concerned with the share price, since a takeover isn't possible; consequently, they face no pressure to inflate the valuation or appease Wall Street. From their perspective, a low price is actually great because it means they can buy shares more cheaply...