Why Nano Dimension Shares Are Trading Higher Wednesday

Nano Dimension Ltd NNDM shares are rising Wednesday after the company received approval to continue with its previously announced buyback.

What To Know: Nano Dimension said it received approval from the Israeli court to continue with its share repurchase program until Oct. 12. The buyback was initially approved in August 2022. 

The approval authorizes management to repurchase American depository shares from time to time in open market or privately negotiated transactions. The company may repurchase all or a portion of the authorized amount. 

"We continue to fulfill our previous promise to investors, which was temporarily held back due to the time expiration of the Israeli court approval," said Yoav Stern, CEO of Nano Dimension.

"We thank the court again for its flexibility in extending the Repurchase Plan period. We are happy to act in a way that both improves the company's balance sheet and benefits its shareholders."

Nano Dimension is a supplier of additively manufactured electronics and multi-dimensional polymer, metal and ceramic additive manufacturing 3D printers.

See Also: What's Going On With U.S. Steel Stock?

NNDM Price Action: Nano Dimension shares were up 3.56% at $2.61 at the time of writing, according to Benzinga Pro.

Photo: Maria from Pixabay.