Sofia bourse operator gets shareholders nod for share buyback programme

Sofia bourse operator gets shareholders nod for share buyback programme

The Bulgarian Stock Exchange (BSE), which operates the country's sole functioning stock exchange, said that its shareholders have approved its plans to launch a share repurchase programme targeting up to 300,000 own shares.

The shares will be repurchased through the BSE's wholly-owned subsidiary - the Independent Bulgarian Energy Exchange (IBEX), the BSE said in a statement.

The BSE intends to pay up to 6 levs ($3.46/3.07 euro) but no less than 4.5 levs per share for the repurchases.

The programme will run for up to three years.

BSE shares last traded at a price of 4.5 levs apiece.

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