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Qiagen Initiates Buyback of $10M of Shares

NEW YORK (GenomeWeb News) – Qiagen said in a regulatory document today that it began buying back the euro equivalent of $10 million of its shares on Sept. 10 in the first tranche of a share repurchasing program.

The company will buy back a maximum of 750,000 shares of its common stock on the electronic trading platform of the Frankfurt Stock Exchange during the tranche, which will last until Nov. 1, Qiagen said in a document filed with the US Securities and Exchange Commission. The maximum purchase price on a per share basis will not exceed by more than 10 percent the average closing price for the last five trading days prior to the day of purchase on the exchange.

The company said during its second quarter earnings announcement that it was repurchasing up to $100 million of its shares in a new buyback program.