January 13 (SeeNews) - Bulgarian poultry producer Gradus [BUL:GR6] said on Friday that its board approved the launch of a share buyback programme targeting up to 3% of the company's equity capital.
Gradus will aim to repurchase up to 7,308,261 of its own shares, it said in a bourse filing.
The company appointed local First Financial Brokerage House as market maker as of January 16, according to a statement from the Bulgarian Stock Exchange.
In 2020, Gradus shareholders approved a programme to buy back up to 3% of the company's own shares within five years at a price between 1.2 ($0.66/0.61 euro) and 2 levs per share.
As of 1107 CET on Friday, shares in Gradus traded 5.63% higher at 1.50 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)