Telematic Interactive Bulgaria kicks off share buyback

The company seeks to repurchase up to 388,800 shares on the regulated market by the end of this year and up to 960,018 shares in total until the end of 2026, Telematic Interactive Bulgaria said in a bourse filing on Tuesday.

Telematic will buy back the shares at a price between 15 levs ($8.3/7.7 euro) and 20 levs apiece, aiming to reduce its capital, it said in an earlier statement.

Sofia International Securities is acting as investment intermediary on the transaction.

The company's equity capital is currently divided into 12.96 million voting shares of 1 lev in par value each, according to the commercial register.

As of 1155 CET on Wednesday, shares in Telematic Interactive Bulgaria traded 3.21% higher at 16.10 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)