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Dec 08, 2017 18:23 EEST
SOFIA (Bulgaria), December 8 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] said on Friday it has acquired 105,844 of its own shares at an average weighted price of 4.27 levs ($2.6/2.2 euro) apiece as part of its share repurchase programme.
The shares, representing a stake of 0.0785% in the company, have been bought back on December 7, Sopharma said in a statement.
On Thursday the company said it has acquired 3.06 million of its own shares at an average weighted price of 4.27 levs on December 6.
On Wednesday, the company said it has bought back a total of 924,732 of its own shares in the period December 1 – December 5.
Sopharma was the most traded blue chip on the Bulgarian Stock Exchange in the trading sessions on Tuesday, Wednesday and Thursday, as 6.0 million, 4.7 million and 2.5 million Sopharma shares, respectively, changed hands in the three trading sessions.
According to Dimitar Georgiev, head of trading at ELANA Trading brokerage, the intensified trading in the shares of Sopharma this week is related to the intentions of an unnamed large shareholder to reduce or sell its stake.
Currently, Sopharma holds 8.88 million of its own shares, equal to a 6.590% stake in the company.
Sopharma plans to repurchase 10% of its own shares under the buyback programme approved in June 2010.
(1 euro = 1.95583 levs)
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