Polish fixed line provider Netia has launched a share buy-back starting today, the company announced.
Over the next 21 months the company plans to acquire shares comprising up to 2.5% of the share capital for a price of between PLN3.00 (US$1.04) and…
Polish fixed line provider Netia has launched a share buy-back starting today, the company announced.
Over the next 21 months the company plans to acquire shares comprising up to 2.5% of the share capital for a price of between PLN3.00 (US$1.04) and PLN8.00 (US$2.78) per share.
The buy back will end on 2 June 2013 the latest. Netia said it has allocated an amount of up to PLN 60m (US$20.84m) to spend on the programme.
Block transactions or off market transactions were ruled out by the company.
Brokers Dom Inwestycyjny BRE Banku are conducting the buy-back for Netia.
In late July Polish incumbent TPSA had also announced a share buyback, saying it would spend about PLN800m (US$278m) of cash raised from the sale of its broadcasting infrastructure unit to acquire its own shares.
