September 26 (SeeNews) - Bulgarian farming group Agria Group Holding [BUL:AGH] said on Monday that it will repurchase 50,000 own shares, starting September 27.
The buyback was approved by Agria shareholders at a general meeting held on June 28, the company said in a bourse filing.
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At the meeting, Agria was authorised to buy back up to 204,000 of its own shares in a price range between 28 levs ($13.83/14.32 euro) and 33 levs apiece, according to a company statement published in June. For the purpose, Agria can launch an unlimited number of share buyback programmes between June 30, 2022 and June 30, 2023.
Agria said at the time that the goal of the repurchase is to increase the liquidity of its shares.
As at 1639 CEST on Monday, shares in Agria traded 5.38% higher at 27.40 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)