Bulgaria's Sopharma Increases Own Shareholding

Bulgaria's Sopharma Increases Own Shareholding

Bulgarian drug maker Sopharma [BUL:3JR] said on Tuesday that it repurchased 1,690 own shares at a weighted average price per share of 4.15 levs ($2.46/2.12 euro) on September 17. The shares represent 0.0013% of Sopharma's capital, the drug maker said in a bourse filing.Following the transaction, Sopharma owns 9,160,000 own shares, or 6.80% of its own capital. Sopharma's five-year share repurchase programme, launched in February, targets up to 10% of the drug maker's share capital.Last week, Sopharma's shareholders approved the distribution of an interim dividend of 0.05 levs ($0.029/0.026) per share for the first half of 2018. The company was authorised to distribute interim dividends by its shareholders in February, following changes to the Bulgarian legal framework which made such dividend payouts possible.As at 11:50 CET on Tuesday, Sopharma shares traded 0.48% lower at 4.13 levs.(1 euro = 1.95583 levs)

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