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Treasury shares

  2020   2019
    number   in CHF 000   number   in CHF 000
Balance as of 1 January   9 266   914   25 609   3 579
Acquisition of treasury shares   16 241   1 475   9 266   914
Sale of treasury shares   (21 081)   (2 062)   (25 609)   (3 579)
Balance as of 31 December   4 426   327   9 266   914

Treasury shares were sold in connection with the profit participation programme for the Management Board (see Note 39 to the consolidated financial statements).