Croatia's biggest telecommunications operator Hrvatski Telekom said it is starting a new share buyback programme, aiming to repurchase up to 3mn of its own shares by 2026.
The company will invest up to HRK600mn (€79.4mn) in the share buyback.
The goal of the programme is withdrawal of shares that have no nominal value without reducing the share capital. The company will also offer a small part of the repurchased shares to its employees.
The shares will be acquired by Hrvatski Telekom at a price of up to 10% higher or 10% lower than the average market price on the day prior to each transaction.
Hrvatski Telekom’s previous share buyback programme ended on April 20.
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