<div id="readability-page-1"><div>By Katherine Hamilton Bayerische Motoren Werke, or BMW, launched a second tranche of its share-repurchase program for up to 52.3 million shares. The German automaker said Thursday that the second buyback tranche would be worth up to 625 million euros, which is equal to about $733 million. The buyback period will go from Jan. 2, 2026, to Aug. 31, 2026, BMW said. BMW completed the first tranche of the buyback on Dec. 8. A total of 7.5 million ordinary shares and 1.8 million preferred shares were acquired between May 21 and Dec. 8, with a total purchase price of EUR750 million. The primary objective of the buyback is to redeem shares with a corresponding reduction in share capital, BMW said. It is also used to transfer shares to employees within an employee-share program. Write to Katherine Hamilton at katherine.hamilton@wsj.com (END) Dow Jones Newswires12-18-25 1403ET</div></div>

BMWYY

宝马已批准其股票回购计划的第二批次，最多可回购 5230 万股，价值高达 6.25 亿欧元（约合 7.33 亿美元）。回购期限为 2026 年 1 月 2 日至 2026 年 8 月 31 日。第一批次于 12 月 8 日完成，涉及回购 750 万股普通股和 180 万股优先股，金额为 7.5 亿欧元。此次回购旨在减少股本并将股份转让给员工

宝马批准第二批股票回购，数量最多可达 5230 万股