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Bulgaria's Sopharma buys back shares

Author Dena Popova
Bulgaria's Sopharma buys back shares

SOFIA (Bulgaria), July 25 (SeeNews) - Bulgarian drug maker Sopharma [BUL:3JR] said on Thursday it bought back 161,424 own shares at an average price of 3.277 levs ($2.2/1.68 euro) apiece between July 18 and July 24 under its share repurchase programme.

The buyback represents a 0.12% stake in the company, Sopharma said in a statement filed with the Bulgarian Stock Exchange. The overall value of the transaction stood at 528,930 levs.

A week ago Sopharma said it bought back 31,378 own shares for an average 3.07 levs apiece between July 11 and July 17.

Sopharma has already bought back 4.6 million own shares, equal to 3.51% of its equity. The company plans to repurchase 10% of its own capital under a five-year program approved in June 2010.
(1 euro = 1.95583 Bulgarian levs)

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