BMW Launches Share Buyback of Up to $2.09 Billion
30 June 2022 - 9:40PM
Dow Jones News
By Giulia Petroni
BMW AG said Thursday that it will launch a share buyback program
of up to 2 billion euros ($2.09 billion) and reduce its share
capital.
The German car maker said the buyback is set to begin in July
and end no later than December 2023. Repurchased shares will
largely be canceled, reducing share capital accordingly.
The program was approved at the company's annual general meeting
in May, which authorized a buyback of up to 10% of the share
capital within a period of five years, BMW said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
June 30, 2022 07:25 ET (11:25 GMT)
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