Imlek buys back 3.4 percent of own shares for EUR 8.4 million

The biggest domestic dairy company - Imlek, repurchased additional 3.4 percent of own shares in a share buyback bid closed December 17th, the Central Securities Register said in a release.

All shareholders who used this opportunity to sell their stake were paid RSD 3,250 per share, which is so far the highest repurchase price paid by this company and even higher than the historic high of Imlek shares on the Belgrade Stock Exchange (RSD 3,200). The company spent 8.4 million euros on the stock repurchase, and it now has 5.2 percent of own shares in its portfolio.

Imlek shares are among the few securities that have hit a new record high after the market peak in 2007. With the latest share price of RSD 3,112, the company's market cap amounts to RSD 27.2 billion (about EUR 240 million).

One of the reasons for such a big growth of Imlek shares is the announced sale of this dairy company, which was supposed to take place last spring, but it didn't because the negotiations with the prospective buyer Campina were discontinued.