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Bulgaria's Web Media Group launches share buyback

Sep 1, 2023, 10:56:09 AMArticle by Mihaela Miteva
share
September 1 (SeeNews) - Bulgaria's Web Media Group [BUL:WMG] said that its board approved the launch of a share buyback programme targeting up to 3% of the company's equity capital, starting September 1.

Bulgaria's Web Media Group launches share buyback
Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

Web Media Group seeks to repurchase up to 235,000 of its own shares at a price between 1.40 levs ($0.78/0.72 euro) and 2.10 levs apiece, it said in a bourse filing on Thursday.

The share buyback programme will run until the end of this year, the company said.

Web Media Group appointed local ABC Finance as investment intermediary.

In April, the company's shareholders approved a programme to buy back up to 3% of its equity capital until the end of 2023.

Shares in Web Media Group last traded at 1.65 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)

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