PNE buying back EUR 5.8m in own stock

German renewable projects developer PNE AG (ETR:PNE3) will buy back shares for a total sum of EUR 5.8 million (USD 6.6m) as part of a freshly concluded share repurchase programme.

The company said in a statement that it will settle the offer on December 14, buying back the maximum number of shares it sought -- 2.19 million -- at EUR 2.65 apiece. This is the lowest price within the EUR 2.25-2.74 range at which the company is able to acquire the shares, it said.

PNE noted that it got offers to buy more than 5.6 million owns shares as part of the programme through the end of the acceptance period on November 30, 2018.

(EUR 1.0 = USD 1.134)

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