On 7 November 2007, Siemens AG, a world leader in electrical and electronic equipment, reported that in order to optimize its capital structure it would repurchase shares by fiscal year end 2010 to achieve a target ratio of net industrial debt to EBITDA in the range 0.8× 1.0×. Accordingly, Siemens said it could repurchase shares in the amount up to €10 billion in several tranches. Siemens’ repurchases in the first two tranches were as follows:
Share Buyback Activities, First Tranche (2008)
|
Month |
Shares Rcpurchascd |
Average Price (e) |
Total Value (6) |
|
January |
1,829,000 |
84.6186 |
154,767,464.62 |
|
February |
9,579,498 |
88.2335 |
845,232,489.97 |
|
March |
9,943,030 |
75.4019 |
749,723,178.63 |
|
April |
3,503,013 |
71.4466 |
250,278,201.67 |
|
Sum |
24,854,541 |
80.4682 |
2,000,001,334.89 |
|
Month |
Shares Repurchased |
Average Price (e) |
Total Value (e) |
|
June |
13,709,495 |
72.8857 |
999,225,910.57 |
|
July |
14,207,169 |
70.3870 |
999,999,975.00 |
|
Sum |
27,916,664 |
71.6141 |
1,999,225,885.57 |