June 21 (SeeNews) - North Macedonia-based concrete and concrete elements producer Fabrika Karpos [MSE:KPSS] said on Friday that its shareholders have approved the launch of a one-year share repurchase programme targeting up to 10% of the company's capital.
The share buyback will be priced in the range 300-700 denars ($5.50-12.84/4.87-11.37 euro), the company said in a bourse filing.
Fabrika Karpos shares last traded on the stock exchange in Skopje on May 17 at a price of 850 denars apiece.
At the meeting, held on Thursday, the company's shareholders also approved the management's proposal for no dividend distribution for 2018.
Fabrika Karpos more than doubled its net profit to 28.8 million denars in 2018 from 12.5 million denars the year before.
(1 euro = 61.59 denars)