December 18 (SeeNews) - Romanian investment fund Fondul Proprietatea [BSE:FP] said that it will seek to repurchase up to 800 million own shares in 2020, with the purpose of decreasing its capital.
The repurchases will be priced in the 0.2-4.0 lei ($0.05-0.93 / 0.04-0.84 euro) price range, the company said in a bourse filing on Tuesday.
All shares repurchased in 2019 will also be cancelled if the company receives the approval of its shareholders to do so.
As at 13:05 CET on Wednesday, Fondul Proprietatea shares traded at 1.19 lei, unchanged from their previous closing price on the Bucharest Stock Exchange.
(1 euro = 4.78 lei)