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Korado Bulgaria launches share buyback, shares rise 2.36%

Author Mario Tanev
Korado Bulgaria launches share buyback, shares rise 2.36% Author: Korado. Licence: All Rights Reserved.

SOFIA (Bulgaria), October 7 (SeeNews) - Steel radiator manufacturer Korado Bulgaria [BUL:4KX] said on Monday that it has launched a share repurchase programme targeting up to 12,000 own shares, after the decision of the company's shareholders was entered into the commercial register on October 3.

Korado Bulgaria's management board has picked local brokerage Elana Trading to service the programme, the company said in a bourse filing.

The programme will be priced in the range 5.24-5.5675 levs ($2.93-3.12 /2.68-2.85 euro).

The share repurchase programme will run until October 17.

As at 10:00 CET on Monday, Korado Bulgaria shares traded 2.36% higher at 6.50 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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