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ULURU surges in afternoon trading on share buyback announcement
ULURU.CO.,LTD. <3979> surged in afternoon trading. Around noon, the company announced a share buyback program to buy back up to 1 million shares (3.61% of issued shares excluding treasury stock) worth up to 350 million yen, drawing buy orders. The acquisition period runs from May 27 through May 26 next year via market purchases on the Tokyo Stock Exchange. It cited its financial position and current stock price, which it views as significantly undervalued compared with peer averages, as reasons for implementing the flexible capital policy. ULURU will also consider using the repurchased shares as consideration for stock swaps in future M&A deals.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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