Purcari wants to buy back shares to meet obligations arising from its managemen incentive program.
Purcari can buy back a daily volume of shares up to 25% from the average daily volume of company shares traded on Bucharest Stock Exchange.
BT Capital Partners was selected to provide intermediary services for the buyback program.
The buyback program amounts to RON2.8 million based on the company’s current share prices.
Purcari Wineries is one of the largest wine groups in Central and Eastern Europe. The Group manages around 1,400 hectares of vineyards and operates four production platforms in Romania and Moldova.