Richter issues order to purchase own stock
Hungarian pharmecuticals company Richter Gedeon commissioned Unicredit Bank Hungary to purchase another 400,000 of treasury stock yesteray. Richter said the shares purchased are needed in share swaps to be carried out within the group.
Richter issued an order for the purchase of 300,000 treasury shares for the same purpose on the previous day. It purchased about 82,000 of Richter shares at an average price of HUF 3,859 on Tuesday.
The company said it had completed a 500,00-stong treasury share purchase it initiated on November 11. Those shares will be used to pay employee bonuses.
Richter itself had a treasury stock of 650,288 on December 9. Group-level treasury stock was 755,788. Richter is one of the Budapest Stock Exchange's blue chips. It rose HUF 5 to HUF 3,855 on Wednesday.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.