(Alliance News) - PharmaNutra Spa announced Wednesday that it has kicked off the buyback program for its own ordinary shares approved by shareholders in mid-April.

The company will be able to buy back a maximum of 24,500 of its own ordinary shares, spending no more than EUR1.1 million.

As of today, the company holds 65,985 of its own shares, or 0.7 percent of its share capital.

PharmaNutra's stock is up 1.5 percent at EUR46.35 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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