The shareholders had approved the repurchase from the market of up to 9.82 million shares for up to 18 months.
The whole repurchase program has an estimated value of RON 58.8 million (close to €12 million) if we consider the closing price of RON 5.99 per share on Tuesday on the Bucharest Stock Exchange (BVB).
Repurchased shares will be offered to employees and management (current and former) for stock options or in exchange for their subsidiary shares, according to a company statement.
The buyback program is managed by BT Capital Partners.
Medlife has a market cap of RON 3.1 billion (€620 million), according to BVB data.
