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BioNTech To Buyback $1.5 Bln Of ADS Over Next Two Years

BioNTech SE (BNTX), a German bio-tech firm, on Thursday announced a share repurchase drive through which the company aims to buy back $1.5 billion in American Depositary Shares or ADSs over the next two years.

The Group expects to use all or a portion of the ADSs to settle dues under the company's share-based payment arrangements.

Commenting on the buyback, BioNTech's CFO Jens Holstein said, " is in line with our capital allocation strategy and our aim to continue to drive shareholder value."

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