BASF: Shares Bought Back
In 2007, BASF bought back shares for EUR 1.9 billion as part of its ongoing share buyback program. A total of approximately 21.5 million shares were repurchased at an average price of EUR 88.35. This corresponds to 4.3 % of the company’s share capital. The EUR 3 billion buyback program is scheduled to be completed by the end of 2008. Taking the shares bought back into account, the weighted average used for calculating earnings per share for 2007 is 488,892,917 shares.
Of the 21.5 million repurchased shares, approximately 9.2 million were canceled in July 2007. A further 1.4 million shares that were bought back in 2006 were canceled at the same time. As of this date, BASF has 490,485,000 shares in accordance with its Articles of Association.
The aim of buying back shares is to optimize BASF’s capital structure and increase earnings per share.
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