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Sep 12, 2023 18:05 EEST
September 12 (SeeNews) - Croatia's Hrvatski Telekom [ZSE:HT] said on Tuesday it will repurchase its own shares through accelerated book building process.
The telco said in April 2021 that it plans to buy back up to 3 million of its own shares by 2026 under a programme that aims to withdraw stocks that have no nominal value without reducing the share capital. It also said back then it will offer some of the repurchased shares to its employees.
Subject of the upcoming auction are up to 300,000 shares with an indicative price range between 25.50 euro ($27.3) and 27.30 euro, investment company Intercapital, the coordinator and book building agent in the share repurchase process, said in an invitation to submit offers for the accelerated book building.
The auction is organised on a single price basis and will be carried out via block transactions. All potential sellers are invited to express an irrevocable commitment by submitting their offers to Intercapital between September 13 and September 14, by 12 CET.
The telco's shares closed flat at 26 euro on Tuesday on the ZSE.
($ = 0.933 euro)
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