By Alberto Delclaux
Rocket Internet SE (RKET.XE) said Monday that its board will buy back up to 15.47 million of its shares, representing 9.37% of its capital, at an offer price of 24 euros ($29.6) per share.
Shareholder PLDT Online Investments Pte. Ltd. has committed to accept the purchase for at least 6.8 million of its shares, more than half of its holding, according to Rocket. Rocket also said that its largest shareholder, Global Founders Capital Management GmbH, will not accept the purchase offer for any shares.
The offer period will begin on April 17 and is expected to end on May 2, Rocket said.
As part of the new share buyback program, Rocket said it decided to terminate early its previous one, which was scheduled to end on April 30.
Authorization for the new buyback program had been granted by shareholders at the annual general meeting on June 2, 2017, Rocket said.
Write to Alberto Delclaux at [email protected]