December 17 (SeeNews) - Romania's SIF Moldova [BSE:SIF2] said that it has completed the first stage of its buy back programme, as it repurchased 2 million own shares, or 0.1996% of it capital, in the period September 18 - December 9.
SIF Moldova paid a total of some 3 million lei ($700 million/627.9 million euro), or 1.49 lei per share, the company said in a bourse filing on Monday.
The repurchased shares will be distributed to employees, managers and directors at the company.
The company's share repurchase plan, adopted by shareholders in April, envisages the repurchase of up to 20 million own shares, of which 15.3 million can be cancelled, while 5 million can be distributed to employees and management.
SIF Moldova managed assets worth some 2.25 billion lei at the end of September, with most of its investments in the financial and energy sectors.
(1 euro = 4.78 lei)