December 16 (SeeNews) - Bulgarian car battery maker MonBat has extended until June next year the deadline for its sixth share buyback offer targeting 0.73% of the company's share capital.
The company has bought back 167,783 of its own shares at an average price of 5.85 levs ($4.36/3.0 euro) each since the launch of the repurchase plan this June, it said in a statement on Tuesday.
MonBat will now aim to repurchase 117,217 stocks, which are equal 0.3% of its share capital, at a minimum price of 6.0 levs and a maximum price of 9.0 levs per share.
The company, majority-owned by Bulgarian lubricants producer Prista Oil, posted an annual drop of 41.63% in its pre-tax profit to 15.3 million levs in the first 10 months of 2009. It has subsidiaries in Romania and Serbia. Its sales in Germany, the Netherlands, Ukraine, Romania and Serbia generate around 85% of its export revenue.
MonBat shares, part of the SOFIX index on the stock exchange in Sofia, plunged 3.65% to 6.59 levs in a volume of 277 shares on Wednesday.
(1 euro = 1.95583 Bulgarian levs)