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.