DSM repurchases shares for balance sheet optimization plan

Royal DSM, a Dutch-based nutritional and pharmaceutical giant, announced on Friday that it had repurchased 729,991 of its own shares between Oct. 5 and Oct. 11, at an average price of 35.83 euros (45.5 U.S. dollars).

DSM made the repurchase in accordance with the share repurchase program it announced on Sept. 27, which is designed to achieve the desired balance sheet structure, according to a press release issued by DSM.

This repurchase cost 26.2 million euros (33.3 million dollars), it said.

To date, DSM has spent 57.9 million euros (73.5 million dollars) repurchasing a total of 1,645,032 shares.

DSM is a transnational company active in nutritional and pharmaceutical ingredients, performance materials and industrial chemicals. It has annual sales of more than 8 billion euros (10 billion dollars) and employs some 22,000 people worldwide.

Source: Xinhua