Covestro AG has successfully completed its share buyback program announced in fall 2017. The program comprised the repurchase of shares worth up to EUR 1.5 billion, or up to 10% of the capital stock. The company has acquired shares totaling more than 9.8% of the capital stock equaling close to EUR 1.5 billion in three tranches since November 2017. The maximum limit of 10% allowed by law has thus almost been achieved around half a year earlier than planned. The difference to the maximum limit is mainly attributable to employee stockpurchase plans from the years 2016 and 2017, as part of which the Company had already acquired treasury shares.
Covestro publishes the transactions conducted for this purpose:
3rd Tranche (August 2018 - December 2018)
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2nd Tranche (May 2018 - July 2018)
1st Tranche (November 2017 - February 2018)