September 21 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:MONB] said on Wednesday that it decided to buy back up to 1.17 million of its own shares, or up to 3% of its registered equity capital.
The shares will be acquired at a price of between 4.51 levs ($ 2.28/ 2.30 euro) and 8.75 levs apiece, Monbat said in a bourse filing.
You can download the 2023 Automotive industry in Southeast Europe report here
The share buyback programme will be launched on September 26 and will last 180 calendar days. If the maximum number of shares is not repurchased within that period, the company may decide to extend the term by a further 180 days.
The programme may also be terminated early if the targeted stock is acquired ahead of schedule.
By 1208 CEST on Wednesday, shares in Monbat traded by 4.34% higher at 5.05 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)