Plotinus launches share buyback ahead of delisting
provided by BSE
Holding company Plotinus announced on Monday the launch of a share buyback program as part of the gradual delisting of its shares from the Budapest Stock Exchange (BÉT), state news wire MTI reported.
Plotinus, which is listed on the Equities Standard section of the BÉT, said it would buy back 300,000 of its shares at a fixed price of HUF 6,000 between June 11 and August 30, 2018.
Last August, Plotinus reduced the number of its ordinary shares listed on the bourse from 928,684 to 494,236.
Plotinusʼs board earlier proposed the delisting, as well as the share and bond buyback, after deciding that its presence on the stock exchange had "tied up significant resources without producing significant benefit."
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.