March 2 (SeeNews) - Croatian diversified conglomerate Adris Grupa [ZSE:ADRS-R-A] said on Friday it will launch a share buyback programme on March 5, targeting to purchase up to 600,000 of its own shares by June 16, 2019.
Adris will spend up to 300 million kuna ($49.7 milion/40.3 million euro) under the programme, it said in a Zagreb bourse filing.
The company currently holds 151,332 of its own ordinary shares, or 1.57% of the total, and 216,172 of its preferred shares, or 3.18%. Overall, Adris holds 2.24% of its equity capital.
The transactions will be carried out via the Zagreb bourse.
InterCapital securities has been authorised to lead the share buy back, Adris said.
In 2015, Adris Grupa said it intended to list abroad in 2018.
(1 euro=7.4435 kuna)