Kapeks Adds 60,000 Shares to Its Buyback Holdings
The company reported its latest repurchase and said its own shares now represent 0.46009% of its capital.
Key takeaways
- Kapeks bought back 60,000 shares on Oct. 13 at an average price of TL51.80.
- Its holdings of its own shares reached 575,569 nominal shares, or 0.46009% of capital.
Kapeks Kimya bought back 60,000 of its shares on Oct. 13 at an average price of TL51.80, according to a company disclosure to KAP. The company said its holdings of its own shares reached 575,569 nominal shares, equal to 0.46009% of its capital.
The repurchase is part of a program approved by the board on Oct. 2. It allows purchases of shares with a nominal value of up to TL10 million and sets a maximum spending limit of TL750,000,000.
Kapeks said the program aims to support healthy price formation because it believes recent market developments have left its Borsa Istanbul valuation below what reflects its performance. A buyback means the company purchases existing shares, rather than paying a dividend to shareholders.
This article was produced with the help of AI technology. Source: Yahoo Finance
