The management board of Monbat has decided to launch a procedure for the repurchasing of up to 0.295% of its capital, or 115,380 shares, the starter battery maker told Profit.bg.

The minimum price to be offered will be the minimum price of the stock in the last day preceding the day on which the management board decides on a starting date for the buyback.

The maximum offered price will be the highest daily price of the stock on May 29, 2008.

This means that the minimum price should be set at 10.70 leva per share, while the maxumum price will amount to 15.04 leva per share, a check in Profit.bg shows.

Monbat booked 83.086 mln leva sales for the first five months of 2008, up by 99.63% year on year. The sales of the company totaled 12.967 mln leva in May alone, up by 68.75% compared to the same month in 2007.

Monbat posted 2.152 mln leva profit for May, while its profit in the period January to May rose to by 152.99% on an annual basis to 13.707 mln leva.

A total of 8,884 shares in the company traded hands today at prices ranging between 11.00 and 11.35 leva apiece.

Photo: Profit.bg