$3.2billion BASF buy-back

摘要

BASE, Europe's biggest chemicals group, have begun to return US$3.2 billion to their shareholders in the biggest share buy-back programme in Germany to date. The move could amount to the cancellation of 7% of the group's 621 million shares that give them a market capitalisation of $44.3 billion. BASF, who have virtually no debt on their balance sheet, said the programme would enhance their earnings per share and reduce their shareholder equity, bringing down the cost of capital.