(Alliance News) - Orsero Spa announced on Monday that it has started a buyback plan of 80,000 own ordinary shares.

For the buybacks, the company will shell out a maximum of EUR1.0 million. The program opens today and will last until July 31.

As of today, the company holds 753,137 treasury shares, or 4.3 percent of its share capital.

Orsero's stock is up 0.7 percent at EUR12.40 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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