By Pierre Bertrand

SAP SE on Monday said that it has started a share repurchase program of up to 500 million euros ($511.3 million) that will last until Dec. 21 at the latest.

The German software company said that up to 5.5 million shares, or approximately 0.45% of the company's share capital, will be repurchased.

The buyback program is based on the company's July 29 closing share price of EUR90.68 in the Xetra trading system of the Frankfurt stock exchange, SAP said.

The company first announced the buyback on July 21. The program follows the repurchase of 10 million shares for about EUR1 billion in the first half of 2022 and the repurchase of around 14 million shares for about EUR1.5 billion in 2020.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

August 01, 2022 03:09 ET (07:09 GMT)

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