In June 2008, BASF concluded ahead of schedule the €3 billion share buyback program for 2007 and 2008 that it announced in February 2007. A new share buyback program that began in July was stopped in the fourth quarter due to the financial and economic crisis.
In 2008, BASF bought back 37.9 million shares for approximately €1.6 billion at an average price of €42.70 per share. The majority of the repurchased shares have already been cancelled and the share capital of BASF SE reduced accordingly.
Following the deduction of 4.6 million shares that are earmarked for cancellation, the total number of outstanding shares was 918.5 million on December 31, 2008. Based on a year-end share price of €27.73, the market capitalization was €25.5 billion at the end of the year.
Share buybacks (million €)
- Shares bought back for €1.6 billion in 2008
- €3 billion share buyback program for 2007 and 2008 concluded ahead of schedule in June 2008
- New share buyback program started in July 2008 stopped in the fourth quarter due to the financial and economic crisis