BioNTech To Repurchase $0.5 Bln Of ADS

BioNTech SE (BNTX), a German bio-technology firm, said on Tuesday that it may buy back American Depositary Shares worth up to $0.5 billion in 2023. Each ADS represents one ordinary share.

The company expects to use all or a portion of the repurchased ADSs to settle upcoming obligations under its share-based payment arrangements.

The timing and total amount of ADS repurchases will depend upon market conditions and may be made in open market, the company said in a statement.

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