(Adds company quote, share price)
LJUBLJANA, June 3 Slovenian generic
pharmaceutical company Krka said it would
delist 7.4 percent of the shares it already owns and buy back
another up to 10 percent over the next three years to increase
the returns and value per share.
Slovenia's largest listed company said it planned to use the
shares that it buys back as a currency for any possible takeover
or sale to an investor.
"We will delist shares so as to increase the value for
shareholders and increase the return per share," Krka said in a
statement prepared for Reuters.
Krka shares rose 0.55 percent to 69 euros ($93.89) after the
announcement, while the blue-chip SBI index lost 0.23
The company said the delisting would take place immediately
after the move is approved by shareholders at a meeting on July
Krka will have a total of 32.8 million shares after it
delists the 7.4 percent.
($1 = 0.7349 Euros)
(Reporting By Marja Novak; editing by Louise Heavens and Jane