Romania's Chimcomplex will carry buy-back plan for up to 3% of its own shares
Romanian chemical group Chimcomplex (BVB: CRC) initiated the procedures for carrying out a buy-back operation involving up to 3% of its own shares. It plans to distribute the shares to management under stock-option plans.
The company will disclose to its shareholders the complete specifications of the buy-back plan after it is endorsed by the financial markets regulator ASF, Ziarul Financiar reported.
Calculated at the current market price, the 3% stake the company seeks to buy back is worth some EUR 20 mln.
The company's shareholders include CRC Alchemy Holding (the investment vehicle of the group's founder, Stefan Vuza, 85.3%), the Romanian state (9%), institutional investors (4.5%) and individual investors (1.2%).
The company’s capitalisation is RON 4.73 bln (EUR 0.94 bln).
andrei@romania-insider.com
(Photo source: the company)
