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Covestro Terminates EUR 500 Mln Share Buyback Program

October 26, 2023 — 08:49 pm EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Covestro AG (CVVTF.PK, COVTY.PK), a German maker of high-tech polymer materials, said it decided to terminate the current share buyback program ahead of schedule due to the current overall situation and the limited time remaining until the end of the program.

On February 28, 2022, Covestro AG had disclosed the start of the share buyback program. The share buyback program had been intended to reach a volume of up to 500 million euros and to be concluded by February 28, 2024, at the latest.

The volume of shares which within the framework of the share buyback program had been bought back in the period from March 21, 2022, until and including June 29, 2023, amounts to a number of 4.69 million shares; this corresponds to 2.4 percent of the share capital. The average purchase price per share was 42.50 euros.

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Covestro Terminates EUR 500 Mln Share Buyback Program

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