The price of SIF Moldova shares decreased 8% during this period, on the negative corrections affecting Bucharest Bourse.
SIF Moldova is the first fund buying its own shares.
The fund’s buyback program started on August 6 and envisages distributing shares to SIF Moldova’s administrators and employees.
SIF Moldova plans to buy back 7 million shares of its own capital of all the 10.3 million shares approved in April’s stockholders’ meeting. The buyback program will be completed December 22.
The fund can buy back 25% of the daily traded shares.
BT Securities will broker the buyback program.
(English version by Manuela Panescu)