SAP Chairman Buys Nearly $300 Million in Company Shares
October 27 2020 - 10:25AM
Dow Jones News
By Mauro Orru
SAP SE's supervisory board chairman Hasso Plattner has bought
shares in the German business-software maker worth nearly $300
million, according to a regulatory filing published Tuesday.
Mr. Plattner bought 248.5 million euros ($293.5 million) worth
of SAP stock on Monday after the company's share price plunged more
than 20%, wiping more than $30 billion off its market value.
SAP on Sunday reported declines in operating profit and revenue
for the third quarter, cut its full-year outlook on earnings and
revenue, and exchanged its 2023 goals for new 2025 targets as the
coronavirus pandemic continued to hit its business.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
October 27, 2020 10:10 ET (14:10 GMT)
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