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Slovenia's Krka buys back 12,689 own shares

Slovenia's Krka buys back 12,689 own shares Source: Krka

LJUBLJANA (Slovenia), January 16 (SeeNews) - Slovenian pharmaceuticals producer Krka [LJE:KRKG] held 1,259,846 of its own shares as of January 15, representing 3.842% of the company's issued share capital, it said on Thursday.

Krka bought 12,689 of its shares for a total of 985,657 euro ($1.1 billion) on the Ljubljana Stock Exchange between January 13 and January 15, the company said in a bourse filing.

Prior to the transactions, Krka held 1,247,157 of its own shares, representing 3.803% of all shares issued.

On July 28, 2017, Krka launched a share buyback programme, planning to acquire up to 2,720,248 shares over the following 36 months. The maximum pecuniary amount allocated to the programme is 227.8 million euro.

The company may dispose of the treasury shares acquired under the buyback programme in exchange for equity stakes in other companies by pursuing its merger and acquisition strategy, or by selling them to a strategic partner, Krka said at the time.

($=0.8975 euro)