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
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Kaspersky securing the digital landscape by offering enhanced
Kaspersky is a thought leader in cybersecurity that identifies threats by p
D-Link in pursuit of building a more connected, smarter and co
D-Link is committed to the ‘Make in India’ vision. Aligned with this, t
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
HIMACHAL FUTURISTIC COMMUNICATIONS LTD.
PRAMA HIKVISION INDIA PRIVATE LIMITED
HAVELLS INDIA LTD.
DRUVA SOFTWARE PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
Icons Of India : B.V.R. Subrahmanyam
A 1987 batch (Chhattisgarh cadre) Indian Administrative Service Office...
PARTNER SPEAKERS
PSU
LIC - Life Insurance Corporation of India
LIC is the largest state-owned life insurance company in India...
BSE - Bombay Stock Exchange
The Bombay Stock Exchange (BSE) is one of India’s largest and oldest...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
VIDEOS
Top 25 Brands
Value-Added Distribution
Indian Tech Talent Excelling The Tech World - NEAL MOHAN, CEO - Youtube
Neal Mohan, the CEO of YouTube, has a bold vision for the platform’s...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
