March 16 (SeeNews) - Bulgarian hotel operator Albena [BUL:ALB] said that its shareholders approved a proposal for a share buyback programme targeting up to 0.47% of its equity capital.
Under the programme, Albena is seeking to repurchase up to 20,000 of its own shares at a price between 15 levs and 29 levs apiece by the end of 2025, it said in a bourse filing on Wednesday.
Earlier this month, the hotel operator reported a consolidated net profit of 23,000 levs in 2022, down from 4.1 million levs a year earlier.
Albena owns the eponymous resort on the northern Black Sea coast, as well as Byalata Laguna and Primorsko coastal holiday villages. It also has several subsidiaries active in transport, agriculture, construction, medicine and spa services.
Shares in Albena last traded at 26.80 levs on the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)