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Slovenia's Krka buys back 11,903 own shares

Slovenia's Krka buys back 11,903 own shares Source: Krka

LJUBLJANA (Slovenia), October 14 (SeeNews) – Slovenian pharmaceuticals producer Krka [LJE:KRKG] held 1,134,542 of its own shares as of October 11, representing 3.460% of the company's issued share capital, it said on Monday.

Krka has bought 11,903 of its shares for a total of 763,327 euro ($842,243) on the Ljubljana Stock Exchange between October 7 and October 11, the company said in a bourse filing.

Prior to the transactions, Krka held 1,122,693 of its own shares, representing 3.423% 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.

($=0.90588 euro)