BMW is buying back its own shares worth up to two billion euros. The program should start in July and be completed by the end of December 2023, the company announced on Thursday. The plan is to buy back ordinary shares with a volume of up to 1.85 billion euros and preference shares for up to 150 million euros.
CFO Nicolas Peter said the Munich-based carmaker expects its liquidity position to remain strong after the full consolidation of its Chinese subsidiary BMW Brilliance. With the share buyback, BMW is sending a signal of strength to the capital market.
The Annual General Meeting gave the go-ahead for the share buyback in May.
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