December 27 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Thursday that its unit Synergon Hotels has decreased its capital to 22.16 million levs ($12.91 million/11.33 million euro) from 24.16 million levs.
Synergon Hotels repurchased and cancelled 2 million own shares, Synergon Holding said in a bourse filing.
Synergon Hotels launched its share buyback programme in September, targeting 2 million shares for a price in the range 1.05 levs - 3 levs.
Synergon Holding owns a 99.98% stake in Synergon Hotels.
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)