November 24 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:SNRG] said on Wednesday that its unit Synergon Hotels repurchased 1,500,000 own shares from Synergon Holding on November 24.
Synergon Hotels bought the shares at a price of 2.36 levs ($1.36/1.21 euro) apiece, the holding company said in a statement.
The shares were acquired as part of a share repurchase programme launched on September 1. The programme targets 1,500,000 shares, to be bought back within three months after the entry of the shareholders' decision in the commercial register at a minimum price of 1.05 levs and a maximum price of 2.50 levs, according to data from the company's shareholders meeting that day.
Synergon Holding held a 99.98% stake in Synergon Hotels at the end of 2020, according to the unit's latest financial report filed with the commercial register.
As at 11:55 CET on Wednesday, shares in Synergon Holding traded flat at 0.66 levs on the Bulgarian Stock Exchange.
Plovdiv-based Synergon Hotels operates the Glarus and Iskar hotels in the Black Sea resort of Sunny Beach.
Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.
(1 euro = 1.95583 levs)