Serbia’s Imlek proposes to buy back 5,000 own shares

The targeted volume is equal to 0.0572% of the company's share capital, Imlek said in a filing with the Belgrade bourse on Tuesday.

The call for the repurchase of the 5,000 shares will be valid until January 10.

The offered price is equal to the price at which the company bought back 293,642 of its own shares in the previous call that closed on December 14.

This is the company's seventh share buyback proposal so far this year under a programme approved by shareholders in March 2012. The programme calls for the buyback of up to 874,000 own shares, equal to 10% of Imlek's share capital, at a price ranging from 2,000 dinars to 20,000 dinars per share. The repurchased shares will be either cancelled or disposed of in another way, the company has said.

Imlek has bought back 458,753 of its own shares by December 17, figures from Serbia's Central Securities Depository and Clearing House showed.

Imlek stock lost 0.60% to 3,136 dinars in a volume of 10,835 shares on the Belgrade Stock Exchange on Wednesday.

(1 euro=113.4251 Serbian dinars)