SAP Chairman bought company's stock worth $294 million
By MYBRANDBOOK
The Chairman and co-founder of SAP, Hasso Plattner has bought shares in the Germany-based software company worth $300 million after a once-in-a-generation price slide triggered when management dumped its profit targets.
According to a regulatory filing which was published, Plattner bought shares worth 248.5 million euros ($294 million) at an average price of 101 euros.
The shares of SAP fell by 20% after CEO Christian Klein ditched his “ambition” for profit margins to expand steadily through 2023. He also lowered the outlook for this year due to the impact of the coronavirus pandemic.
The share slide erased $35 billion from SAP’s market value and knocked the company off its perch as Europe’s most valuable technology company, where it was ousted by Dutch semiconductor equipment maker ASML.
Earlier, Plattner possessed 5.89% stake in SAP, according to Refinitiv data. At Monday’s closing price his stake was still worth $8.2 billion.
BREAKING NEWS
TECHNO TRENDS
Happiest Minds brings in an innovative GenAI chatbot
Happiest Minds Technologies has announced the new GenAI chatbot - ‘hAPPI...
Government mandates encryption for CCTV cameras to ensure netw
In the wake of issuing an internal advisory on securing CCTV cameras at g...
TRAI recommends allowing only Indian entities to participate i
The Telecom Regulatory Authority of India (TRAI) has recommended that onl...
Galaxy AI is available on more devices with Samsung One UI 6.1
Samsung has expanded the range of smartphones to which One UI 6.1 and Gala...
E-Magazine
TECHNOTAINMENT
Disney+ Hotstar wins the Best OTT Platform of the year
Film Critics Guild and Group M Motion Entertainment, in collaboration with
Miss World 2024: Krystyna Pyszková of the Czech Republic wins
Krystyna Pyszková of the Czech Republic has been crowned as the 71st Miss
MOVERS & SHAKERS
Brillio appoints Ashish Singh to its Board of Directors
Brillio has announced that Ashish Singh has been appointed to the company
JSW One Platforms ropes in Dr Ranjan Pai as Independent Direct
JSW One Platforms, part of US$23 billion JSW Group has appointed Dr Ranjan
OPEN YOUR EYES
INTERVIEWS
InstaSafe’s growth has always been determined by its custome
With the epidemic, India became a major global market, and in the years 202
Kaspersky securing the digital landscape by offering enhanced
Kaspersky is a thought leader in cybersecurity that identifies threats by p
HOT PICK
HP launches first laptop in India with Microsoft CoPilot butto
HP has launched sleek and stylish Envy x360 14 laptops in India which beco
OnePlus debut its Nord CE4 smartphone
OnePlus Nord CE4 continues the trend of attention-grabbing design with two
MAKE IN INDIA BRANDS
STERLITE TECHNOLOGIES LTD.
MATRIX COMSEC PVT. LTD.
LAVA INTERNATIONAL LTD.
HAVELLS INDIA LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Anil Kumar Aggarwal
Anil Agarwal is an Indian billionaire businessman who is the founder a...
Technology Icons Of India 2023: Dr. Sanjay Bahl
Sanjay Bahl is currently with the Indian Computer Emergency Response T...
Technology Icons Of India 2023: Harsh Jain
Harsh Jain is an Indian Entrepreneur, the co-founder and CEO of the In...
PARTNER SPEAKERS
PSU
BSE provides highly secure, efficient and transparent market for trading
BSE (formerly known as Bombay Stock Exchange Ltd.) is Asia's first & t...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
C-DAC keeps India ahead in IT & Electronics R&D space
Centre for Development of Advanced Computing (C-DAC) is the premier R&...
VIDEOS
Top 25 Brands
Value-Added Distribution
RAH INFOTECH
RAH Infotech is India’s fastest growing technology value added dist...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...
REDINGTON INDIA LIMITED
Redington (India) Limited operates in the IT product distribution busi...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
