Bulgaria's Stara Planina Hold To Buy Back 0.5% of Its Own Shares

The 60-day buyback, which targets up to 105,000 shares, will start on October 15. The buyback period could be extended if the company fails to repurchase the targeted shares over the set timeframe, Stara Planina Hold said in a statement.

The buyback is performed in support of the company's share price, Stara Planina Hold investor relations officer Nikolay Mitankin told SeeNews.

The holding company owns stakes in battery producer Elhim-Iskra, Hydraulic Elements & Systems and hydraulic equipment manufacturer M+S Hydraulic, all listed on the Sofia stock exchange.

Shares of Stara Planina Hold, part of the broader BG 40 index, closed 2.47% higher at 2.48 levs in a volume of 3,645 stocks.

(1 euro = 1.95583 Bulgarian levs)