February 10 (SeeNews) - Bulgarian software and IT services group Bianor Holding [BUL:BNR] said on Friday that its shareholders approved a proposal for a capital hike of up to 25 million levs ($13.77 million/12.78 million euro) and a share buyback programme targeting up to 3% of its equity capital.
Bianor plans to increase its capital over five years through one or more new share issues, it said in a bourse filing. Under the share buyback programme, the company aims to repurchase up to 20,256 of its own shares over the course of a year at a price between 15 levs and 25 levs apiece.
In December, Bianor said it was looking at potential deals with local companies to complement the organic growth it foresees in 2023, which it would finance through the capital increase.
Shares in Bianor Holding last traded at 19.80 levs on the BaSE market of the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)