1. Tenaris has initiated a share buyback program, acquiring 5.07% of voting rights. 2. Techint Holdings sold 2.6 million shares between December 9-12, 2025. 3. Techint plans to sell up to 21 million shares under an accelerated sales program. 4. Sales will occur independently by a European financial institution, maintaining compliance. 5. The ongoing buyback may impact shareholder benefits and stock valuation moving forward.
FAQ
Why Bearish?
The large share sales by Techint Holdings may signal liquidity and lower demand. A similar past example shows that large shareholder sell-offs often lead to price drops.
How important is it?
The share buyback and sales by major stakeholders are significant for future share valuation and market perception.
Why Short Term?
The immediate effect is likely to impact TS stock closely as large shareholders' actions create market sentiment shifts.
Tenaris S.A. Announces Significant Share Buyback Update
Overview of Share Buyback Program
On December 17, 2025, Tenaris S.A. (NYSE: TS, Mexico: TS, EXM Italy: TEN) announced a pivotal update regarding its ongoing share buyback program. The company reported that it has acquired and is currently holding 5.07% of its ordinary shares, which translates to this percentage of Tenaris's voting rights. Shares purchased under this program are held in treasury, with their voting rights suspended, and will be canceled in the near future.
The details of these share buyback transactions are disclosed in accordance with the Market Abuse Regulation, which can be accessed on their official investor relations website.
Controlling Shareholder Announcement
Alongside this announcement, Tenaris revealed the filing of an amendment to Schedule 13D by its indirect controlling shareholder, San Faustin S.A., and direct controlling shareholder, Techint Holdings S.à r.l.. This filing, made with the U.S. Securities and Exchange Commission (SEC), details that Techint Holdings sold a total of 2,600,000 ordinary shares of Tenaris between December 9 and December 12, 2025, under a non-discretionary sales mandate.
- Sales conducted by Techint Holdings were executed with a European broker-dealer regulated in the EU.
- The company anticipates further sales of up to 21,000,000 ordinary shares under a non-discretionary accelerated share disposal agreement (ASD Program) starting December 15, 2025, and concluding no later than May 19, 2026.
Independent Trading Decisions
Under the terms of the ASD Program, the Bank involved will independently make all trading decisions regarding the sales of Tenaris ordinary shares. This structure ensures that the sales will not be influenced by Techint Holdings and will be conducted in compliance with applicable regulations in European stock markets.
Following the completion of this program, the Reporting Persons indicated there may be additional sales of ordinary shares depending on market conditions and other factors, adhering to the previously mentioned Sales Authorization.
Future Amendments and Financial Outlook
It is essential to note that the Reporting Persons may amend their beneficial ownership report on Schedule 13D over time, as required by SEC rules. Such amendments will be publicly accessible through the SEC’s EDGAR database. Tenaris will not necessarily be required to announce these updates to the market.
The company also made a note regarding forward-looking statements, indicating that they are based on management’s current views and assumptions, which may involve risks that could lead to actual outcomes differing from expectations, particularly concerning future oil and gas prices.
About Tenaris S.A.
Tenaris is recognized as a leading global supplier of steel tubes and related services tailored for the energy sector and various industrial applications. With its strategic initiatives, Tenaris continues to enhance its market position and shareholder value.