NEW YORK (GenomeWeb) – Qiagen has launched the third tranche of a share repurchase program for up to approximately $30 million.
In a document filed with the US Securities and Exchange Commission, the firm said that a maximum of 2 million shares will be repurchased at a maximum per-share price no greater than 10 percent above the average closing price of the last five trading days prior to the day of purchase on the Frankfurt Stock Exchange.
The third tranche of the repurchase program lasts until Aug. 31, Qiagen said. In the two previous tranches carried out last year, the firm repurchased more than 2.1 million shares for about $50 million.
Qiagen said that the repurchased shares will be held in treasury to satisfy obligations from exchangeable debt instruments and/or employee share-based remuneration plans.