BASF SE (XTRA:BAS) announces a share repurchase program. Under the program, the company will repurchase €3,000 million worth of shares. The purchase price per repurchased share (excluding incidental transaction charges) may neither exceed the market price of a BASF share on the trading day, as determined at the opening auction in the Xetra trading (or a comparable successor system) by more than 10% nor fall below such market price by more than 10%.

The purpose of the program is to create value for its shareholders, return available capital to shareholders, optimize capital structure and increase earnings per share. The company will will cancel all repurchased shares and reduce the share capital accordingly. The program is valid till December 31, 2023.