MHP buys back 1% of outstanding shares
13 June 2012
MHP (MHPC LI) announced yesterday it bought back 1,170,000 million of shares (via GDRs) representing approximately 1% of issued shares, at an average price of USD 11.13/share. The share buyback program was approved at an EGM on Oct. 19, 2011 and allows for the repurchasing of up to 11,077,000 shares (10% of issued shares) during a period of up to five years at a market price in a range of USD 1-18/GDR. MHP free float now stands at est. 19.4%, while treasury shares account for an est. 4% of issued shares.
