Ludwigshafen, Germany - Chemicals group BASF SE bought back shares worth Euro 1900 million during 2007, in an ongoing Euro 3000-million buyback programme, scheduled to be completed by the end of 2008
BASF said in a 21 January statement that its aim in this buy-back scheme is to optimise BASF's capital structure and increase earnings per share.
During 2007, the group repurchased 21.5 million shares at an average price of €88.35, corresponding to 4.3 percent of its share capital.
About 10.6 million bought back shares were cancelled leaving BASF with 490 485 000 shares.
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