Alliance Global Group Inc. (AGI.PH) is planning to buy back 2.5 billion Philippine pesos (US$48 million) of shares as it seeks to improve its stock's value.
The buyback will be undertaken over a period of 12 months and is also aimed at improving the company's earnings-per-share, Alliance Global said Wednesday.
Shares of Alliance Global have been falling in recent months, having lost nearly 19% in the past six months. The stock is up 0.3% at PHP12.60 at 0330 GMT.
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