BNTX - BioNTech launches new $0.5B ADS repurchase program

2023-03-28 06:54:04 ET

• BioNTech SE ( NASDAQ: BNTX ) has approved to new buyback program to repurchase up to $0.5B of American Depositary Shares, each representing one ordinary share, of the company during the remainder of 2023.
• The drug maker expects to use all or a portion of the repurchased ADSs and the ADSs held in treasury to satisfy upcoming settlement obligations under the company’s share-based payment arrangements.
• The share repurchase program announced on March 31, 2022 of up to $1.5B concluded on March 17, 2023 with a total repurchase amount of $1.3B.
• Shares are marginally down in Tuesday's premarket hours.

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